Business

Sell SOEs to private sector for better mgt – Kwame Pianim

A renowned economist, Kwame Pianim is calling for the outright sale of some State Owned Enterprises (SOEs) to the private sector as part of the measures to mobilise revenue for the government.

According to him, many of the SOEs which have become less vibrant to the state needs to be sold to maximize profit in the wake of the economic difficulties faced by the country.

He explained that some SOEs over the years have been saddled with debt over issues of mismanagement among others.

Many of these SOEs are continually adding to the liabilities stock of the government, he said.

He added that others are just liabilities to the state.

His comment is coming at a time; the State Ownership Report has revealed that SOEs recorded GHS2.61 billion loss in 2020 alone.

Commenting further on the matter in an interview with Classfmonline.com on the sidelines of a public forum held in Accra, Mr Pianim said the only option to make these Institutions viable is to sell them off to the private sector.

He was of the view that the private sector stands a better chance of managing some of these SOEs.

Source: Classfmonline.com

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