State Enterprises Improving On Their Performance – Public Sector Minister
The Honourable Minister of Public Sector Enterprises Reforms Mr Joseph Kudjoe has revealed that the current state of the state enterprises is quite better than previously.
Speaking to the Press at the ministry of information in Accra, he said some state organizations that use to run at a loss have started rising up as result of the close supervision and monitoring by SIGA and his ministry.
The minister intimated that the president after carefully watcing the performance of these state companies, appointed him to situate them on profit making spree.
According to the minister the president wanted to turn things around . The minister stated that the 147 state enterprises face some challenges but as we write 138 of them are above water due to some measures put in place by his Ministry.
According to him the state own enterprises are worth about 417 billion cedis and they cannot sit on these assets without turning them into profit making ventures. According to him it’s not alk SOEs that make losses but Ghanaians have lumped all of them together non profit making organizations . Some SOEs posted 12 billion cedis in 2020 as profits and they employ about 77,990 workers country wide. The minister posited that some of the major challenges facing them were ; non compliance of statutory procedures, non preparation of financial reports, lack of proper accountability per auditing, improper governance, accountability, among others.
The media was told that some of these enterprises were trailing with their financial statements report for 8 to 10 years before NPP came to power , but as of now, only few of them have not prepared their accounts for statutory audit . So far most of them have improved on their governance structure, transparency, accountability, financial reporting, performance benchmarks,etc. He announced that in May there will be the display of league table to show the performance grades of these state organizations. Those doing well will be encouraged to do better and those not doing too well will be urged to step up their performance .
He praised the Ghana Publishing Corporation for lifting themselves above the rungs to their current status. The minister said some state organisations are making losses through no fault of theirs but via systemic challenges.
He said the government is determined to position these organisations properly to contribute their quota for nation building because things cannot continue to be like this for ever.
