By Zainab.Joaque@awokonewspaper.sl
Freetown, SIERRA LEONE – A bill aimed at repealing the National Commission for Privatization (NCP) Act of 2002 and strengthening the oversight and governance of state-owned enterprises (SOEs) is currently undergoing validation. This bill, known as the State-Owned-Enterprises Bill, was drafted based on the State-Owned Enterprises Ownership and Governance policy developed in collaboration with stakeholders, including the NCP, the World Bank, and supervisory ministries.
Chief Minister David M. Sengeh stressed the importance of this validation process, highlighting its significance in improving government service delivery. He urged participants to consider the concept of service delivery and the inclusion of inclusion in the law, as it is now part of the government’s agenda. He emphasized that power, authority, and control must be used responsibly, as those who use their authority to gain power and control may not remain in leadership forever.
Abdu Muwonge, World Bank Country Manager, underscored the bill’s importance in enhancing transparency and disclosure of financial and operational performance for SOEs. He emphasized the need for consultation and feedback during the validation process, as SOE executives play a vital role in reforming the process. He called for clarity in roles and responsibilities to ensure effective delivery.
NCP Executive Secretary Safura B. Rogers acknowledged the increased portfolio that comes with the National Commission for SOEs and called for adequate funding to support its operations. She noted that the NCP recommends funding the Commission with a percentage of privatization proceeds to enhance its operations.
Solicitor General Robert B. Kowa emphasized the technical nature of drafting such a law, assuring participants that his office would guide the process to avoid conflicts of laws. He urged participants to take the process seriously, as it is a complex drafting endeavour that requires addressing potential conflicts.
Minister of Finance Sheku F. Bangura cautioned against potential conflicts of roles and responsibilities with the new entity, urging that the Act should not aim to usurp the functions of ministers and ministries with technical competence. He outlined the primary functions of the Commission, emphasizing its role in representing government ownership interests, administrative oversight, setting performance objectives, monitoring financial performance, and approving significant transactions.
The validation process is expected to provide clarity and address potential conflicts in roles and responsibilities, ensuring effective governance of SOEs. ZIJ/25/8/2023
