Beijing, China – President Joseph N. Boakai Sr. has reiterated his firm commitment to regulating and capping the salaries and benefits of executives and board members of State-Owned Enterprises (SOEs). Speaking in Beijing, President Boakai underscored the necessity for compensation packages to reflect the economic realities of Liberia, marking a significant step toward enhancing probity, transparency, and accountability within the public sector.
The President’s remarks followed the receipt of a detailed report from the Bureau of State Enterprises (BSE), which provided insights into the outcomes of an extensive review of remunerations, stipends, and operational inefficiencies within various state-owned enterprises. The report highlighted a troubling lack of coordination between SOE Boards and management, prompting a call for a new regulatory framework to oversee the sector.
In his address, President Boakai expressed gratitude for the BSE’s thorough work and extended his thanks to Director General Arthur Massaquoi for the comprehensive report. He acknowledged the valid concerns of Liberians regarding financial mismanagement, inefficiencies, and waste within SOEs, signaling a proactive approach to rectifying these issues.
The President urged the BSE Management and the Governance Commission to collaborate in developing a robust Corporate Governance Policy. This policy aims to address existing gaps and inconsistencies, harmonize operations, and drive sector-wide reforms.
This call to action reflects the Government’s dedication to fostering an environment of efficient and accountable governance within state-owned enterprises. President Boakai emphasized that his Administration’s stance on oversight and regulation underscores a commitment to promoting transparency, efficiency, and responsible management of public resources.
