The processing of the Government Shareholder Management Bill, which was yet to be tabled before Parliament by the Department of Public Enterprises (DPE), would have to be sped up, Portfolio Committee on Public Enterprises chairperson Dipuo Letsatsi-Duba said on Wednesday.
The Bill would, among other aspects, enhance the functioning of the DPE by enabling it to make strategic interventions in State-owned companies.
In a meeting between the DPE and the portfolio committee Letsatsi-Duba asked how soon the department will be able to table the Bill, stating that it was “important because it will enable the committee and the department to [oversee boards] and hold the[m] accountable.
“Furthermore, the legislation will also assist us to determine the remuneration of the board members and executives. As public representatives, people on the ground are complaining that board members and executives are earning a lot of money where there is no value for money,” Letsatsi-Duba highlighted.
At the meeting, members of the committee also noted that punitive measures needed to be put in place for nonperformance as the Labour Relations Act was clear on actions that had to be taken where there was nonperformance.
Making a specific reference to the Medupi power station, the committee questioned the department on mechanisms put in place to recoup taxpayers’ money on government infrastructure projects that had escalated in costs from the initial contract a