Duma wants to see Kumul control state-owned businesses

AN amendment to the Kumul Consolidated Holdings (KCH) Act 2002 to restore the capabilities of monitoring, accountability and governance of the majority of state-owned enterprises (MSOEs) was presented by SOE Minister William Duma yesterday.
In presenting the Bill, Duma told Parliament that the challenges and criticisms faced by the Government were well documented.
After presenting the overview of the 21 changes that are proposed in the Bill, which includes the application of the National Procurement Act, directors of KCH and MSOEs, finance, accounts and records and chief executive officer.
Several MPs stood to give their comments on the presentation of the Bill.
National Capital District Governor Powes Parkop said while he would support the minister, he wanted to encourage him to think long-term and make tough decisions.
“We are not solving the problem by making changes with some of the SOEs becoming a liability to the nation,” he said.
“We need to decide on whether we keep them or get rid of them.
“Many of them have received public funds and it has become a big dark hole, nothing is coming from them. This should be the first step in making the tough decisions, we want a report on the performance of all the SOEs.”
Abau MP Sir Puka Temu, however, questioned the changes to section 4 of the amendment which stated that the National Procurement Act did not apply to KCH and SOEs.
“An annual statement must be presented every end of the year,” Sir Puka said. “However, if we are stating that the National Procurement Act does not apply, then are we asking Parliament to approve this?”
However, Duma responded, saying: “All our SOEs are not in the position to be sold down under a private partnership arrangement where most of them are not making profit.
“That is why this government is presenting these amendments.”