The newly appointed Chairman of the National Commission for Privatisation (NCP), Retired Colonel Alhaji Fanday Turay and the new Executive Secretary, Josephine Ansumana have hit the ground running with a series of engagements with Public Enterprises under the Commission’s purview.
The new NCP leadership visited heads of parastatals to listen to presentations on their operations and strategic plans that would be translated into key performance benchmarks for effective service delivery.
In the Parastatals visited, the NCP Chairman and his team outlined their vision on enterprise reform and explained how the Commission’s strategic framework has been realigned with government’s approach to economic development and consequently adaptive to the framework established under the New Direction.
The Chairman encouraged all the heads of Parastatals visited to remain focused in delivering their specific mandates and asked for increased collaboration with his Commission which was established by law to reform, restructure and privatise Public Enterprises slated under the First Schedule of the NCP ACT N012 of 2002.
“It is time we change the narrative in order to maximize our growth potentials. The NCP is evermore committed to attract viable private capital investment into our Public Enterprises without compromising the interest of the State…,” he said.
At the end of his visits, the NCP Chairman discovered that certain parastatals have done relatively well and can now make profit to be able to pay dividend. He noted that he would require financial resources from government to overhaul and streamline their operations if they should revert to profitability, adding that they would have to be privatised in order to among other things remove contingent liability on government.
The Parastatals visited include the Sierra Leone State Lottery, Guma Valley Water Company, Sierra Leone Ports Authority, Sierra Leone Road Transport Corporation, Sierra Leone National Shipping Company, Sierra Leone Commercial Bank, Rokel Commercial Bank and Sierra Leone Housing Corporation.