7 Feb 2007

Solomon Islands finance minister says SOEs are under-performing

10:45 am on 7 February 2007

The Solomon Islands Finance Minister has accused state-owned enterprises of under-performing.

Gordon Darcy Lilo has also accused the state enterprises of lacking good governance.

He made the criticisms in the National Parliament yesterday while presenting his 2007 Budget.

Mr Lilo Says the government has seen poor and unreliable services, and a lack of audited financial statements.

He says as a result, the Finance Department will introduce a new State-owned Enterprises Act later this year.

The minister says the government is updating all state enterprise accounts with donor assistance.

The government has already withdrawn its subsidies to state-owned enterprises.