MONROVIA – President Joseph N. Boakai has reaffirmed his commitment to regulating and capping the salaries and benefits of executives and board members of State-Owned Enterprises (SOEs). He emphasized the importance of aligning compensation with the country’s economic realities, signaling a significant step towards ensuring transparency, accountability, and responsible use of public resources within the public sector.
President Boakai made these remarks while receiving a comprehensive report from the Bureau of State Enterprises (BSE). The report detailed the findings of a thorough review of remuneration, stipends, and operational inefficiencies across various SOEs. It also highlighted a critical lack of coordination between SOE boards and management, prompting a call for the development of a regulatory framework to govern the sector more effectively.
Expressing his gratitude for the BSE’s work, President Boakai praised Director General Arthur Massaquoi for the report’s insights. He acknowledged the valid concerns of Liberians over financial mismanagement, inefficiencies, and waste within SOEs and indicated that his administration is taking a proactive approach to address these issues.
The President urged the BSE and the Governance Commission to collaborate on formulating a comprehensive Corporate Governance Policy to close existing gaps, streamline operations, and enhance oversight within the SOE sector. This initiative reflects the government’s commitment to sector-wide reform aimed at boosting efficiency and fostering accountable governance.
President Boakai reiterated that the administration’s focus on oversight and regulation of SOEs is part of a broader dedication to promoting transparency, efficiency, and responsible management of public resources.
