Govt collects record-breaking dividend in 2017
January 24, 2018 5:29 pm
The Government collected a record-breaking dividend pay-out from the twenty-one state-owned enterprises last year.
Permanent Secretary for Public Enterprise, Jitendra Singh says in 2017, the Government received seventy-eight point eight million dollars.
“Despite the individual state-owned enterprise’s setback in the past years there is an overall improvement in the consolidated portfolio. In the 2014 to 2016 period more entities are now earning more than ten percent return on equity.”
Singh says the high pay-out can be attributed to the changes in the management system by the Government.
He adds when the Government introduced the new job evaluation process, the right people were hired in managerial positions on merit-based, leading to the increase in dividends.