Lesotho State-Owned Enterprises : A Country Policy Note
The objectives of this note are identifying the fiscal implications and the shortcomings of the corporate governance of the SOE sector through an initial stock taking of the sector. This policy note first presents a description of the SOE sector i...
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/964741523980623696/Lesotho-State-owned-enterprises-a-country-policy-note http://hdl.handle.net/10986/29752 |
| Summary: | The objectives of this note are
identifying the fiscal implications and the shortcomings of
the corporate governance of the SOE sector through an
initial stock taking of the sector. This policy note first
presents a description of the SOE sector in Lesotho,
analyzing its scope, size, performance and major problems.
For the purposes of this Policy Note, the term SOE refers to
all legal entities which undertake commercial activities on
Government’s behalf, although in reality some SOEs have both
commercial and social objectives. The coverage of this study
is limited to commercial, revenue generating enterprises
where Government has a significant control through full or
partial ownership. It does not include non-revenue
generating statutory or regulatory bodies which depend
entirely on transfers from Government. The policy note then
focuses on the financial relations between the state and the
SOE sector, examining the sector's impact on government
finances. This is followed by a section on the governance
framework for the sector, which identifies strengths and
weaknesses and opportunities for improvement, this is
important to identify opportunities for government to
strengthen its management of SOEs, increase the transparency
of the sector and, eventually, improve their performance.
The final section makes policy recommendations based on the
research findings and conclusions and on international best
practices. A section at the end of the Executive Summary
proposes an action plan and timetable for an SOE program. |
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