Cabinet approves Bills

By Thupeyo Muleya

Thursday, 24 March 2011 20:19

Parastatals and State Enterprises Minister Gorden MoyoBusiness Reporter GOVERNMENT has approved Bills relating to the governance and restructuring of State enterprises and parastatals.Parastatals and State Enterprises Minister Gorden Moyo said the adoption of the State Enterprises and Parastatals Management Bill and the State Enterprises Restructuring Agency Bill will ensure successful restructuring of the companies.The State Enterprises and Parastatals Management Bill will provide for, among other matters, the duties, functions and responsibilities of the minister respon- sible for State Enterprises and Parastatals, with respect to areas of corporate governance and performance monitoring. This Bill will therefore facilitate the codification of the Corporate Governance Framework that was launched last year.On the other hand, the State Enterprises Restructuring Agency Bill seeks to provide for the establishment, functions and responsibilities of the State Enter-prises Restructuring Agency and the institutional framework for the restructuring.Minister Moyo said the State Enterprises Restructuring Agency is operating as per Cabinet and Constitutional mandates."The adoption of the principles of the two Bills is further confirmation of my Ministry and Govern-ment‘s overall commitment to ensure the successful restructuring of State Enterprises and Parastatals," the Minister said yesterday.Once drafted, the two bills would provide a legal framework forboth the Ministry of State Enterprises and Parastatals and the State Enterprises Restructuring Agency.Minister Moyo said the legal framework was necessary to facilitate successful implementation of reforms aimed at improving the operational efficiency and effectiveness of State-run entities."Let me remind the nation that the overarching intention of these reforms in SEPs is to improve service delivery and achieve sustainable economic growth for Zimbabwe," he said."These two Bills, once adopted will not replace enabling Acts governing Parastatals and the Companies Act with respect to State Enterprises, but will address specific policy gaps with respect to corporate governance, performance monitoring, restructuring, and cross-cutting issues affecting State Enterprises and Parastatals in general," State Enterprises and Paras-tatals will continue to be managed through the responsible ministries, which provides general policy direction, said Minister Moyo.
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