The Minister for Public Enterprises, Hon. Joseph Cudjoe has launched the “Public Enterprises League Table” (PELT) Award scheme to assess the performance of all specified state enterprises in accordance with the performance contract signed with SIGA.
Hon. Cudjoe at the launch of the award scheme in the Osu Castle conference room said PELT was one of the most potent management tools which have to do with ranking and bringing competition among the state entities.
Speaking to the media in an interview, the Member of Parliament representing Effia Constituency in the Western Region said that PELT was his brainchild to engender competition among the public enterprises to drive home the vision of President Akufo-Addo to create more jobs through the public enterprises and also in the private sector through the One District One Factory initiative.
Explaining what the Public Enterprises League Table seeks to achieve, the Minister for Public Enterprises said that the award scheme would rank how the public enterprises have performed about the contract they signed with the State Interests and Governance Authority (SIGA).
He added that these public enterprises had gone through a negotiation process and agreed with SIGA on terms and conditions as well as come up with indicators and objectives to achieve their targets, hence, the PELT would compel them to stay focused and adhere to the performance contract.
“So, as a tool, we are ranking the enterprises of the state so far as their attainment of the targets in the performance contracts is concerned”, he stated.
He however described PELT as a technical ranking and not the usual public ranking where a team for instance in the soccer league that comes last on the league table goes on relegation.
He rather said that the PELT being a management tool would ensure that the company that comes last on the league table would be supported with more resources in terms of time, efforts, possibly financial, training and capacity building.
But, on the other hand, he said that the company that comes first on the league table would need no attention so far as resources and energy are concerned.
Hon. Joseph Cudjoe however said that the committee in charge of the ranking created four dimensions upon which the public enterprises would be ranked and awarded accordingly.
“The committee in charge of the ranking has indicated four areas for the ranking; from financial and economic considerations (profitability) to dynamic effects (innovations, if the entities are engaging in innovations and they are investing in the state assets or maintaining them so that in the future, the same assets will be used to generate revenue and report a profit for us).
“The third dimension is efficiency and productivity and the fourth dimension has to do with management improvement. If the entities are doing these four dimensions, it forms the basis of the public enterprises league table ranking”, he explained.
He, therefore, urged the media to show much interest in all the efforts President Akufo-Addo was putting up to ensure that the segment of the stat assets work very well to the benefit of every Ghanaian.
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