THE MINISTRY of Public Enterprises has announced its Public Enterprises League Table (PELT) created to assess the performance of state-owned enterprises (SOEs) has started from this month.
According to Joseph Cudjoe, Minister of Public Enterprises, the league table will help all state-owned enterprises to work hard and competitively to achieve their goals, and as a consequence increase revenue for themselves and the country.
The 2020 State Ownership Report indicates that SOEs recorded a cumulative loss of GH¢2.6 billion in 2020, which represents nearly a 50 percent improvement over the 2019 aggregate loss of GH¢5 billion.
It is as a result of this that stakeholders have called for more urgent and collective work to help address these losses and boost revenue.
The Public Enterprises League Table (PELT) was launched last month to monitor SOEs to ensure they operate efficiently and register profits.
Mr. Cudjoe told journalists recently that “For the first time, we’re going to rank the performance of the public enterprises. It is expected that this will encourage all the enterprises to do better. When you’re at the bottom, it would mean that the effort we should make to enable you perform better should be increased. So then such companies will be given more attention, resources, training, investing of capital, and others. In May, the league table will be published.”
Ambassador Edward Boateng, Director General of State Interest and Governance Authority (SIGA), advised SOEs to ensure they work harder and place Ghana on a higher international pedestal like most Asian countries with whom it had independence about the same time.