Parastatals post uneven performances

Presenting the 2015/16 Budget Speech, Matambo said the parastatals continued to display uneven performance during the 2014/2015 financial years with some performing satisfactorily, while others recorded operational losses.

Matambo said there is need to closely monitor the operations of parastatal organisations, with a view to ensuring that they continued to contribute to growth and employment creation. “To facilitate this, each ministry will be required to implement the ‘Guidelines for the Exercise of Shareholder Oversight over Parastatals’ to strengthen the governance and oversight structures of the parastatals, which should contribute to the overall improvement in their performance,” he said.