The Chief Executive Officer of State Enterprises Commission, Stephen Asamoah Boateng, has disclosed that the salaries of CEOs of state-owned enterprises will soon be pegged.
The move comes after a committee established by the Commission to look into the salaries of CEOs, completed and presented a report on the issue.
Mr Asamoah Boateng in an interview with Joy News’ Elton Brobbey said, the recommendations of the committee are being implemented and a ceiling will be adopted to ensure no CEO earns beyond a certain threshold.
“We’ve started with the Board allowances. The area of the salaries is not as simple as is coming out…you also are looking at attracting the best in the system but there will be a bandwidth with which we will say ‘you cannot go beyond or below this’,” he said.
He also indicated, the President will still hold the prerogative to appoint board members and CEOs of state enterprises under a new law regulating the sector.
“The function of the Commission is now to advise the president not to take that power away from him and there are areas where you can prepare a list he can choose from.”
He added that performance contract systems have also been put in place for the CEOs to ensure that they go into work knowing that they are protected.
In a related development, a new Authority to streamline and address the oversight and coordinating challenges that have bedeviled state enterprises and agencies, has been launched.
Known as the State Interest and Governance Authority, (SIGA), the new entity will also monitor the performance of State-owned enterprises and sort out ownership issues.
President Nana Addo Dankwa Akufo-Addo who launched the Authority in Accra at the 2019 Policy and Governance Forum, urged the Management and Board to repudiate the culture of failure and make state-owned enterprises profitable.