Gov't seeks consultant to assess impact of state policies on SOE finances for a monthly salary of MVR 46,000!

The Ministry of Finance has announced that it is seeking a specialized consultant to assess the financial standing of State-Owned Enterprises (SOEs) and to analyze and provide recommendations on the potential impact of government policies on these entities.

The position being recruited for is that of "Chief SOE Financial and Business Strategist."

According to an announcement by the Ministry of Finance, the successful candidate for this position will receive a monthly remuneration package of approximately MVR 46,000, inclusive of salary and allowances. This is a contract-based appointment for a duration of one year.

Interested parties are invited to submit their Expression of Interest (EOI) for this position by the deadline of the 9th of this month.

The primary responsibilities of the appointee include providing strategic guidance and instructions on restructuring the financial statements of State-Owned Enterprises (SOEs). This initiative aims to ensure that financial reporting reflects a true and accurate representation of the companies' financial standing.

Furthermore, a key responsibility of this position involves providing the necessary guidance to rectify issues identified in the external audits of corporate financial statements and addressing concerns raised in management letters.

A key objective of this initiative is to alleviate the financial burden placed on the state budget by state-owned enterprises. In this regard, the strategist will be required to conduct research on enhancing the effectiveness of government investments and capital injections to ensure they are utilized in the most productive manner. Furthermore, the Ministry of Finance stated that the strategist must explore alternative financing avenues for corporate projects and provide guidance on prioritizing key development initiatives.

Furthermore, the responsibilities of this position include assessing the financial impact of various government policies on state-owned enterprises. The Ministry has also stipulated that the appointee must provide technical consultancy to both the government and the companies to mitigate any potential adverse effects arising from such policies.

The government stated that these measures were taken as part of ongoing efforts to reform State-Owned Enterprises (SOEs) and ensure they operate without becoming a financial burden on the state. However, various official reports released since the current administration took office indicate that the financial health and performance of these SOEs have continued to deteriorate steadily.