- The government has no business running businesses as it cannot easily compete with private enterprises
- It should stop throwing good money after bad money.
A scorecard on the performance of parastatals is out and its findings justify why the government must quickly offload some of the state corporations.
The Public Service Performance Management and Monitoring Unit rated 232 parastatals out of which only 92, a mere 39.6 percent, achieved their annual performance targets (see pages 4-5).
The ranking looked at the parastatals' key mandate, customer experience, corruption prevention, project completion, payment of pending bills, absorption of funds, access to government procurement opportunities for the youth and women as well as internship opportunities for the youth
State universities, despite their financial challenges, seem to be doing well in ranking while parastatals in the manufacturing and distribution sector fared dismally.
Chemelil Sugar Company, Nzoia Sugar Company and South Nyanza Sugar Company Limited have for the last two financial years featured in the bottom 10. National Oil Corporation was ranked as the second worst-performing parastatal.
The government has no business running businesses as it cannot easily compete with private enterprises, which are free of the many bureaucracies in public service.
The government should stop throwing good money after bad money. The parastatal reforms must be speeded up and the loss-making outfits sold to private investors.
Quote of the Day: “There’s nothing like a jolly good disaster to get people to start doing something.”
King Charles III
The British monarch was born on November 14, 1948