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National Agency for the Supervision and Privatisation of Public Enterprises, No. 83 of 1995

Country/Territory
Eritrea
Document type
Legislation
Date
1995
Source
FAO, FAOLEX
Subject
Agricultural & rural development, General
Keyword
Governance Business/industry/corporations Institution Policy/planning Public participation Public private partnership (PPP) Risk assessment/management
Geographical area
Africa, Eastern Africa, Least Developed Countries, Red Sea & Gulf of Aden
Abstract

This establishes the National Agency for the Supervision and Privatisation of Public Enterprises as an autonomous legal entity. The objectives of the Agency is primarily to formulate and supervise; the implementation of appropriate management policy, functions, duties and responsibilities in and by all public enterprises so as to vitalise, optimise and transform their respective productivity and servicing capability; and the establishment of competitive and conducive economic ambience in said public enterprises for and in the enhancement of their privatisation. Some of the functions of the Agency include; to identify and categorise all and every public enterprise based on the nature of each and respective undertakings and socio-economic responsibilities; to formulate and implement a privatisation strategy and program inclusive of investment strategies as a basis for a cohesively congruent implementation process and realisation of its objectives; to conduct comprehensive and detailed economic and business studies on each of said public enterprises, inclusive in-depth review of original capital investment, total assets valuation and financial track record, management efficiency, manpower skill and resources, technological status and production and marketing and servicing capability, among others. The Agency is further authorized and empowered to identify, prioritize and privatise public enterprises in accordance with its own policy and transparent privatisation modalities and imperative valuation and pre-requirements based on comprehensive economic, technical, business and financial considerations, as well as long term public interests and national responsibilities and with such equitably commensurate contractual or transaction terms and conditions. The law provides for the management, organisation and administration of the Agency.

Full text
English

References - Legislation

Amended by

Proclamation to Amend the National Agency for the Supervision and Privatisation of Public Enterprises, No. 83 of 1995

Legislation | Eritrea | 2011

Keyword: Governance, Business/industry/corporations, Institution, Policy/planning, Public participation, Public private partnership (PPP), Risk assessment/management

Source: FAO, FAOLEX