The director-general of the State Interest and Governance Authority (SIGA), Edward Boateng has stated that his outfit will move to hold back budget of state-owned enterprises (SOEs) if they fail to live up to expectation.
In an engagement with the media on Thursday (19 January) in Accra, Boateng said “We are going to recommend to the Minister for Finance to hold their [SOEs] budget for 2023.”
He added that in July last year, SIGA published the names of all the sate entities that did not meet the deadline and submission of management accounts, adding that “these are actions that has never been taken before.”
Boateng stressed that SIGA intends to continue with the name and shame of SoEs, if they fail to perform to task.
“As long as we push these things forward, people will begin to act responsibly,” he added.
The Public Financial Management Regulations 2019 (L.I. 2378), Regulations 194 and 195 (Submission and Approval of Financial Plans) and Regulations 196 (Performance Compact) also mandated SIGA to sign Performance Compact with Specified Entities and submit as part of Specified Entities financial plans for approval.
It said in addition to setting of performance targets and Key Performance Indicators (KPIs) for 2023, the performance of Specified Entities in the current fiscal year would be reviewed to ensure accountability and measurement of the attainment of set goals.
The maiden SIGA Editors’ Forum was under theme, “Understanding the Role of SIGA”.
The forum is an initiative of SIGA to strengthen the existing relationship between the Authority and the media and provide the public with accurate information.
Boateng, lauded the role of the media in nation-building and stressed their importance as key stakeholders in disseminating information and educating the public on activities of specified entities.
He said SIGA was established to oversee government interests in the specified entities to ensure that they operate profitably and efficiently.
“We are therefore poised to make a change to support President Nana Addo Dankwa Akufo-Addo’s vision for specified entities to contribute 30% to Ghana’s GDP.”
“In light of this, our stakeholders and Ghanaians must be informed of the numerous programmes and initiatives that our Specified Entities are implementing to help the country’s socioeconomic development. As a result, we will need your understanding and support to communicate our progress, challenges, and success stories to the public,” he added.
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