Wean off burdensome parastatals

Tuesday, April 15, 2014

The 2012-13 Auditor General’s report on the performance of certain state-owned enterprises presents nothing new. It is generally well-known that the BPC, BMC, WUC, Air Botswana and Botswana Railways are among perennial loss-making parastatals, which have over the years cost the taxpayer billions in lost dividend revenue, subsidies and loan guarantees.

What is new in the report is the inordinate extent to which losses have risen and the equally steep subsidies that have been required to plug the hole at these subsidiaries. The BPC, alone, recorded a loss of P1.25 billion during the year under review even with the benefit of an P871 million subsidy. This year, the BPC will receive P1.5 billion in the form of a subsidy, on top of P1.4 billion last year.

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