Parastatals need President to champion reforms, Parliament resolves

THE Parliamentary Committee on Parastatal Bodies has maintained that Government should continue using the Office of the President as a political champion to drive the economic reform process.The committee has also recommended that the Industrial Development Corporation (IDC) should define a set of new rules and regulations to clearly outline reporting structures since multiple reporting is undermining effective performance of parastatal companies.
The committee further recommended that the procurement process should be streamlined within the State-owned enterprises (SoEs) framework to reflect the private sector business model and ensure timely decision-making aimed at enhancing business opportunities.