President Joseph Nyuma Boakai has stressed the imperative need for a
proactive approach in addressing diverse issues at State owned enterprises.
As a means of rolling out said approach The Liberian Leader urged the BSE Management and the Governance Commission to collaborate in formulating a comprehensive Corporate Governance Policy that would address the existing gaps and bypasses in the sector and harmonize operations.
The call he pointed reflects the Government’s commitment and action to driving sector-wide reform, ensuring efficiency, and fostering an environment of accountable governance within state-owned enterprises.
President Boakai noted that his Administration’s stance on the need for oversight and regulation of state-owned enterprises underscores his dedication to promoting transparency, efficiency, and responsible management of public resources.
He at the same time reiterated his commitment to regulating and capping the salaries and benefits of executives and board members of State-Owned Enterprises (SOEs).
President Boakai also emphasized the need for compensations to be in line with the economic realities of the country, signaling a significant step towards ensuring probity, the judicious use of public resources, transparency, and accountability within the public sector.
As a true leader of the people , President Boakai recognized and empathized with the legitimate concerns of Liberians regarding financial mismanagement inefficiencies and waste within SOEs.
The Chief Executive spoke when he received a comprehensive report from the Bureau of State Enterprises (BSE), which outlined the outcomes of a thorough review of remunerations, stipends, and operational inefficiencies across various state-owned enterprises.
Among other things, The report brought to light the lack of coordination between SOE Boards and management, prompting a call for the development of a regulatory framework to govern the SOE sector.
Meanwhile, the Liberian leader commended the diligent work of the BSE, Director General Arthur Massaquoi placing emphasis on his insightful report recently submitted to his office.
In another development, Last evening, Chinese President Xi Jinping welcomed President Boakai & First Lady, Mrs. Boakai to the Welcoming Banquet hosted in honor of African Leaders attending the Forum On China-Africa Cooperation (FOCAC).
