Two State-Owned Enterprises (SOEs) yesterday signed a performance contract agreements with the government for 2016/2017.
The contract was signed between the State Housing Company (SHC), Ghana Civil Aviation Authority (GCAA) and their sector ministries with State Enterprise Commission (SEC) playing an oversight responsibility.
It is to enjoin the two institutions to meet certain targets and objectives set out for the specified period in order to contribute immensely to the development of the country.
Speaking at the signing ceremony in Accra, the Chairman of SEC, Mr.Camynta Baezie hinted that SEC would undergo restructuring including a change of its name, beginning September this year.
He said the restructuring was aimed at repositioning the commission to be more effective in delivering its mandate as the supervisor and regulator of SOEs.
According to him, the commission through the Ministry of Finance had already begun discussions with the World Bank to facilitate a complete restructuring of the entire functions of SEC and its name.
When completed, Mr. Baezie said the SEC would be more responsive to its mandate and ensure that the country derived the best from its state-owned enterprises towards the rapid development.
“It was against such background that we continue to encourage all SOEs to sign the agreement to enable the commission assess their performance and to motivate them to be more productive in their respective sectors,” he said.
Mr. Baezie explained the late signing of the agreement with the GCAA and SHC which was supposed to have been done in January instead of July, attributing it to the restructuring and some shortcomings of SEC.
He, however, stated that the commission had also made room for other SOEs that had not signed the contract to offer themselves for such opportunity.
The Director General of GCAA, Mr. Simon Allotey, lauded the SEC for its guidance and role as supervisor, noting that the GCAA recognised the contract as a strategic document that impressed on it to deliver the best.
He said the GCAA also considered the contract as strategic management tool that would support it to comply with the Civil Aviation Act 678 and the GCAA Amendment Act, 2016 (906), which strongly obliged the authority to ensure the safety and security of the country’s airspace.
Mr. Allotey was optimistic that the authority would meet the targets and objectives set out in the contract saying “we are gladdened by it in the sense that it was not only linked to reward but served as means to build the capacity of staff while delivering our mandate.”
The Managing Director of SHC, Mr. Samuel Sarpong assured the commitment of the company to adhere strictly to the terms and conditions spelt out in the contract.
According to him, it was significant for SOEs to work hard in meeting the contract’s targets and goals to avoid being hauled to the Public Account Committee (PAC) for questioning over mismanagement and financial impropriety.
The Deputy Director of Policy Planning, Budget, Monitoring and Evaluation at the Ministry of Water Resources, Works and Housing, Reverend Stephen Yaw Osei urged the State Housing Company to show much commitment to the document and ensure that it worked assiduously to help address the 1.7 million housing deficit in the country.
By Charles Amankwa and Alimatu Quaye