Parliament\nhas adopted the report on the State Interests and Governance Authority Bill\n(SIGA), 2019 after the drafted Bill was laid and referred by the Speaker of\nParliament.<\/p>\n\n\n\n
Presenting the\nreport on the Bill by the Chairman for the Parliamentary Select Committee on\nConstitutional, Legal and Parliamentary Affairs who also doubles as the Member\nof Parliament for Offinso South, Mr. Ben Abdallah Banda, he said the Bill seeks\nto reform the governance structure of all State entities. <\/p>\n\n\n\n
Ben\nAbadallah Banda indicated that none of the interventions of the government to\nhelp streamline the operations and activities of the State entities have had\nthe intended impact.<\/p>\n\n\n\n
He pointed out that as a result, government has resolved to adopt the single entity model to help harmonize guidelines and policies, to oversee and administer entities, which the State has interest as well as State-Owned Enterprises (SOEs).<\/p>\n\n\n\n
The chairman reiterated that the model will\ninvolve the establishment of an Authority, to enhance co-ordination in the\nmanagement of state interests and ensure a clear line of accountability from\nState-Owned Enterprises and other State interests. He further explained that it\nis expected that the Authority will boost performance and enhance the\nprofitability of the entities. He added that the Authority will ultimately lead\nto increased returns to the State in the form of dividends and surpluses.<\/p>\n\n\n\n
The Chairman for the Committee revealed that the Authority is expected to oversee three categories of entities; State-Owned Enterprises, Joint Venture Companies and other entities including regulatory bodies which the State has an interest in. <\/p>\n\n\n\n
According to the chairman,the Committee was informed that the SIGA Bill provides for not more than 5 percent of dividends received and accruing to State-owned Enterprises and joint venture companies on an annual basis, loans and grants, monitoring fees, administrative penalties, and other internally generated funds accruing to the Authority. <\/p>\n\n\n\n
By: Theresa Adezewa Aryeetey<\/p>\n","protected":false},"excerpt":{"rendered":"