By: Alphanso G. Kalama,
Email: alphansokalama@gmail.com
Beijing, China – September 4, 2024 – President Joseph N. Boakai Sr. has underscored his commitment to reforming the management and oversight of State-Owned Enterprises (SOEs) by pushing for stricter regulations on executive salaries and benefits.
During a recent meeting, President Boakai received a detailed report from the Bureau of State Enterprises (BSE) which exposed significant discrepancies and operational inefficiencies within SOEs. The report highlighted a lack of coordination between SOE boards and management, leading to calls for a robust regulatory framework.
In response, President Boakai stressed the importance of aligning executive compensation with the country’s economic realities. He called for increased transparency, accountability, and judicious use of public resources. The President’s remarks reflect a broader initiative to overhaul governance within the public sector.
Acknowledging the hard work of the BSE, President Boakai expressed gratitude to Director General Arthur Massaquoi for the comprehensive analysis. He recognized the public’s concerns regarding financial mismanagement and inefficiency in SOEs and vowed to address these issues through a proactive approach.
The President urged the BSE Management and the Governance Commission to work together in developing a Corporate Governance Policy to address operational gaps and streamline SOE operations. This policy aims to foster a culture of responsible management and efficient governance.
President Boakai’s administration is committed to driving significant reforms in the SOE sector, demonstrating a clear dedication to improving oversight, efficiency, and accountability in the management of public resources.
