Cabinet Approves Parastatals Reforms
By Takunda Mandura
Government has announced State Enterprises and Parastatal (SEP) reforms aimed at returning government entities to profitability and efficiency.
The developments come at the back of indications that most parastatals have been operating at a loss for close to two decades and the move is set to refocus the companies’ strategies aimed at doing away with poor corporate governance amongst a host of other ills.
The statement issued by the Minister of Finance and Economic Development Honorable Patrick Chinamasa read
“This includes promoting good corporate governance in the SEPs sector, undertaking an overall Strategic Portfolio Review, individual SEPs performance reviews and, conducting forensic audits where the need arises in some SEPs,” it reads.
The moves comes line of the 2018 National Bible which stipulated the urgency of SEP reforms to accelerate development of a SEPs Short and Medium Term Reform Framework (SEPs-SMTRF) that would guide the implementation of the National SEPs Reform Framework.