The Ministry of Finance and Treasury has agreed to maintain two responsible ministers in the State Owned Enterprises (SOE) Amendment Bill 2024.
This following concerns raised by key stakeholders, including relevant ministries, agencies, SOEs, and Transparency Solomon Islands.
These stakeholders expressed concern over the original proposal to give all authority to the Minister of Finance and Treasury.
Selwyn Takana, Director of the Economic Reform Unit in the Ministry of Finance and Treasury, confirmed that the feedback had been taken into account when his team appeared before the Bills and Legislative Committee (BLC) in Parliament last week.
“We have incorporated some of the recommendations made by the Committee and worked with the Attorney General’s Chambers to introduce changes,” Takana stated.
“As a result, Section 2 will now remove the concept of ‘accountable ministers’ and reintroduce the idea of ‘responsible ministers,’ ensuring that two ministers will have authority.”
Takana explained that the powers would be divided: regulatory functions would be overseen by the sector minister, while the commercial aspects of SOEs would remain under the jurisdiction of the Minister of Finance and Treasury.
The BLC Committee, led by Chairman John Maneniaru, welcomed the news.
Maneniaru expressed his satisfaction, noting that this was the outcome he had hoped for.
Transparency Solomon Islands (TSI) had been particularly vocal in its opposition to concentrating all power in a single minister.
Legal officer Joy Abia warned that the Bill, if left unchanged, could centralize control over state institutions and assets in a way that threatens governance.
Abia cautioned that such a move could foster corruption, promote conflicts of interest, and undermine transparency and accountability.
“The Bill represents a gradual but deliberate attempt to consolidate power,” Abia said.
She added that it could compromise the integrity of SOE board appointments by increasing political influence.
Thanks to the Ministry’s responsiveness, the Bill will now retain a structure where two ministers are responsible for SOEs, addressing these concerns.
The BLC hearing, which commenced on October 8 and continued throughout the week, included appearances by several stakeholders such as the Ministry of Finance and Treasury, the Central Bank of Solomon Islands, Solomon Islands Electricity Authority, Transparency Solomon Islands, and others.
By EDDIE OSIFELO
Solomon Star, Honiara
