The Department of Public Enterprises says that it is making progress with its plans to establish a centralised shareholding company to help it control existing state-owned enterprises in the country.
A group that will ensure the commercial sustainability of SOEs with minimum or no reliance on the fiscus. “The president established the Presidential SOE Council to advise him on these and related matters. Based on a review of global experience and work done within the Department, the PSEC recommended the centralised shareholder model, which is reflected in the holding company proposal.
However, he stressed that the commercial and development mandates of Holdco will be set by the government.
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