Procurement guidelines for state-owned companies will deter corruption: Finance Minister

Minister of Finance Ibrahim Ameer has stated that newly-launched procurement guidelines will deter corruption in state-owned companies.

Finance Minister Ameer made the remarks while inaugurating the new procurement guidelines to be in effect for state-owned companies, which include a job classification framework as well. Finance Minister Ameer stated that while there were over 30 companies under state ownership, they represented essential services being provided to citizens on behalf of the state. As such, the Finance Minister remarked that a well-rounded procurement guideline was necessary to reduce costs and improve service quality.

Minister Ameer went on to note that as of now, different state-owned companies operated based on internal procurement guidelines that differed significantly from company to company, resulting in an environment which encourages and enables corruption. He added that with the launching of a uniform procurement guideline for state-owned companies, necessary minimum requirements will be established for procurement procedure in order to deter corruption.

Highlighting improving the efficacy of state-owned companies as one of the top-priorities of the incumbent administration, Minister of Finance Ibrahim Ameer added that job classification frameworks will improve employment policies at state-owned companies.

The Minister of Finance also noted that the goal was not to increase the number of state owned companies, and that 17 companies with state shares were already in the liquidation stage and on their way to dissolution. As such, changes will target the procedure for hiring and promoting workers, to ensure that all employees working for state-owned companies will be treated fairly within the employment market, and to ensure that those employed at state-owned companies are qualified for their jobs.