Opinion / Columnist
New pay structure for parastatal bosses noble
28 Aug 2017 at 16:35hrs | Views
I would like to applaud Government, through the Office of the President and Cabinet (OPC) for its efforts in setting new payment structure for parastatal and State enterprise bosses.
The move, which is waiting for Cabinet approval will ensure that the parastatal bosses are paid a certain amount of salary which they should not exceed by any means. This is a perfect move in the sense that it curbs underhand deals and embezzlement of public funds by chief executive officers (CEO) of parastatals.
Acting Director, Corporate Governance Unit in the Office of the President and Cabinet Ms Roselyn Tapfumaneyi was reportedly quoted in the press saying there was a bill called, Public Entities Corporate Governance Bill which when passed into law will limit CEO's terms of office to ten years.
The law will also monitor, supervise and oversee the management operations of public entities to encourage compliance in parastatals. Such intervention by Government will encourage transparency in the management of State funds by these CEOs.
I also believe that the classifying of parastatals under categories such as commercial, social and non-profit was perfect as some of them generate huge proceeds whilst others are just non-profit making organisations. Hence, remunerating them basing on their performance and categories is ideal.
Government should also be encouraged to implement the same exercise to local authorities' bosses who are known for rewarding themselves with hefty salaries and allowances.
The move, which is waiting for Cabinet approval will ensure that the parastatal bosses are paid a certain amount of salary which they should not exceed by any means. This is a perfect move in the sense that it curbs underhand deals and embezzlement of public funds by chief executive officers (CEO) of parastatals.
Acting Director, Corporate Governance Unit in the Office of the President and Cabinet Ms Roselyn Tapfumaneyi was reportedly quoted in the press saying there was a bill called, Public Entities Corporate Governance Bill which when passed into law will limit CEO's terms of office to ten years.
I also believe that the classifying of parastatals under categories such as commercial, social and non-profit was perfect as some of them generate huge proceeds whilst others are just non-profit making organisations. Hence, remunerating them basing on their performance and categories is ideal.
Government should also be encouraged to implement the same exercise to local authorities' bosses who are known for rewarding themselves with hefty salaries and allowances.
Source - Peacemaker Zano
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