To lessen overviewing burden of State-owned Enterprises by the government.
To ensure effectiveness in public enterprise management and accelerate the divestiture of State owned Enterprises (SOEs) in order to ease the pressure on public expenditure.
- To promote enterprise efficiency through improved corporate governance
- To promote and accelerate wider participation of the private sector in the operation of SOEs.
- Setting criteria to appoint Professionals/Experts as CEOs.
- Setting objective criteria for selection of boards of directors.
- Maintaining strict financial discipline by SOEs.
- Making the management of SOEs accountable for overall performance.
- Selection of the SOEs to be privatised with reference to their type of business, and other factors necessitating divestiture.
- Selection of appropriate method for privatisation on a case by case basis ensuring a fair opportunity by all investors.
- To allow government to concentrate on the business of government policy formulation.
- To reduce the financial and managerial burden imposed on the government by SOEs.
- To increase competition and efficiency and introduce technological modernisation as well as provide better consumer services.
- To develop good management practices.
- To accelerate the rate of growth of economy by stimulating private investment.
- Improve the effectiveness and transparency of privatisation procedures and privatisation decision making.
- To make a clear policy statement on privatisation considering the past experiences.
- Formulation of Privatisation By-Laws/Procedural manual to ensure consistency in procedures for divestiture.
- Revision of the privatisation process to streamline the present cumbersome and lengthy process.
- Expansion of public awareness program on privatisation.
- Privatisation of 12 SOEs at the end of FY 059/60.
- Preparation of basic guidelines for Board members representing different SOEs.
- Implementation of the recommendations of corporation reform committee applicable on pay structures and benefits systems, structural design and basic management systems/practices of SOEs.
- Publish annual report on performance and targets of SOEs.
- To carry out research, analyses, and discussion with the line Ministry.
- To propose program of the privatisation to the privatisation committee.
- Approval of time bound privatisation program by enlisting enterprises in different phases.
- Approval on method and technique of privatisation and other issues.
- Commission and approve valuation and other relevant reports.
- Finalise and issue bidding documents.
- Companies to be privatised are advertised in both national and international press.
- Bids to be submitted in two envelopes technical and financial.
- Select evaluation committee members & conduct evaluation.
- Bids to be evaluated against predetermined evaluation criteria.
- Approval of preferred bidder.
- Finalise sales contract in discussion with preferred bidder.
- Approval of finalised sale contract with preferred bidder.
- Increased profits earned by SOEs
- Reduced burden to the government treasury
- Increased contribution of SOEs to the GDP
- Number of units privatised
- Reduced time from selection to privatisation
- Amount of sales proceeds realised
- Utilisation of sales proceeds
- Change in employment
- New technological innovations
- Profit/Loss made by the privatised companies
- Increased investments after privatisation
- Revenue contribution after privatisation
- Increase and diversification in production after privatisation
- Increase in sales volume after privatisation
- Increase in profit earned by SOEs
- Decreased pressure in Government treasury for SOEs expenses
- Quarterly and annual review of performance against program
- Post Privatisation monitoring of privatised enterprises to be undertaken annually both to ensure compliance with terms and conditions of transfer and to assess performance
- Annual performance evaluation of SOEs
- Environmental Scanning
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