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New SOE oversight authority proposed

Friday, August 25, 2023 | 260 Views |

Successfully unpacked: The BTCL initial public offer in 2016 remains the sole privatisation completed by government. Critics however say government’s decision to hold onto 51% of shares means the transaction was not a perfect privatisation PIC:BTC

The Public Enterprises Evaluation and Privatisation Agency (PEEPA) has urged government to introduce an oversight authority to enhance the effective management of state-owned entities and to crack the whip on unprofitable ones.

The advice to establish the authority came through a draft ownership policy that will be presented to Cabinet, after a series of stakeholder engagements between various government research arms.

The new State Owned Entity’s ownership policy, which contains the proposal to establish an oversight authority, comes as government’s steps up its rationalisation and privatisation efforts.

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