AWARENESS TIMES
Sierra Leone News & Information

State House | Press Union | Lumley Beach | AllAfrica | SL-Web

www.awarenesstimes.com

  Giving Knowledge to the People
welcome to sierra leone's premier news source
Last Updated: Aug 28th, 2015 - 18:26:48 
Front Page 
 
 NEWS
 Breaking News
 Local News
 Politics
 Photo News
 Video News
 
 EDITORIALS
 
 FROM OUR TEAM
 
 COMMENTS & OPINIONS
 Moiie's Column
 
 SPECIAL REPORTS
 Afsatu Kabba
 
 FEATURES
 
 ENTERTAINMENT
 
 PROFILES
 Role Models
 Awareness Lady
 Common Man
 
 THE ECONOMY
 
 NOTICES & DOCUMENTS
 Special Messages
 Legal Matters
 Obituaries
 
 PAID SUPPLEMENTS
 
 ADVERTISEMENTS
 
 SATIRE
Search


Published online by
Sylvia Blyden Dot Com

17 Garrison Street,
Freetown,
Sierra Leone.
Tel: +232-77-772001
Tel: +232-88-321000
Tel: +232-76-350077
Tel: +232-30-321001
Email:
editor@news.sl
Website:
www.awarenesstimes.com

NEWS : Local News  

Finance Minister Blasts Public Enterprises in Sierra Leone.
By Bintu A. Sesay
Dec 31, 2007, 20:28
Email this article
 Printer friendly page

The Minister of Finance and Economic Development, Mr. David Carew has said that the weak performance and management of key public enterprises is the main factor that is responsible for the poor delivery of utility services by these enterprises and a major obstacle to private sector development and economic growth. The disclosure was made whilst the minister was delivering the budget report for 2008 in Parliament.

The minister discloses that it was in consonance of these problems that the National Commission for Privatization (NCP) was established in 2002 with the mandate to defend government ownership as well as that of restructuring these enterprises. He said the objective was to improve on the efficiency of their operations and reduce the financial burden on government.

In his statement of the financial position of these enterprises, the minister pointed out that the total operating profit for the first half of 2007 fell short of the Le 7 billion forecast for the period.

He highlighted the Government owned Commerical Banks as having rendered profits and noted that the Rokel Commercial Bank constructed an Ultra-modern Branch in Makeni as part of its activities to provide financial service to other parts of the country outside Freetown. He informs that the Rokel Commercial Bank in 2008 plans to revert the declining performance by initiating aggressive marketing strategies focusing on customer care and launching of new products to meet the challenges of competition. He also intimates that the bank planned to open a new branch at Charlotte Street in Freetown adding that in the first half of 2007 the bank achieved an operating profit of Le 4.8 billion which is 11% below the amount projected for the period.

He said that Sierratel continued to register losses by making a net loss of 7 billion in 2006 adding, that in the first half of 2007, the company made a net loss of Le584 million with administrative cost constituting 93% of the company’s gross turn over.

He said Guma Valley Water Company made an operating loss of Le12 billion in 2006 which was 41% higher than the projected loss in the company’s three years cooperate development plan. During the first half of 2007 he added about 350 unregistered customers were regularized and 778 meters were replaced.


© Copyright by Awareness Times Newspaper in Freetown, Sierra Leone.

Top of Page

Latest Headlines
NEWS
Sierra Leone Politics : SLPP MPs Rescue Party from Voters’ Scorn & Anger
R.H.O. Robbin Coker Passes On
Sierra Leone News : DEC-SEC and Partners Plan For Clogpas 5
EDITORIALS
Sierra Leone Enjoys Real Democracy Under Ernest Bai Koroma
Sierra Leone Peace & Democracy just keep on Consolidating! RUF Party is now in Spokesman Seat for all Political Parties
Sierra Leone: Logus Calmly Shows Kamarainba Faked 20 as 28; 47 as 44 and 30 as 31
FROM OUR TEAM
APOLOGY FOR DELAY IN WEBSITE NEWS UPDATES
Rogue Judiciary Catalysed Civil War - Sierra Leone Citizens
Sierra Leone News: Awareness Times Newspaper is back after Holiday Break
COMMENTS & OPINIONS
Sierra Leone: In Defence of 'Monologue'
Halloway Saga! Can ACC help Bar Association?
The Governance Stakeholders Coordination Forum Presents Position Paper To The Constitutional Review Committee
SPECIAL REPORTS
Sierra Leone President’s Wife Denies being Infected by Ebola
Mr. Edward Babatunde Blyden Located: We Give God the Glory!
QUOTABLE QUOTE ON NEGATIVE SIERRA LEONE POLITICKING
FEATURES
Sierra Leone Politics: Emergency, SLPP, Sections 77(1)(k) & 77(1)(L)
Sierra Leone Airport Terror Alerts : Did Bio Set Up Yumkella or is Yumkella Just Ignorant?
NERC News Update: Safe & Dignified Burials
ENTERTAINMENT
ALONZO : TALK ABOUT SALONE
PROFILES
Sierra Leone Politics : Alhaji Osman Foday Yansaneh, a Muslim Steering an all-inclusive APC Secretariat
TRIBUTE TO DR. V R WILLOUGHBY
A Tribute to My Golden Lady - Cillaty Daboh on his Mum
THE ECONOMY
Sierra Leone Investment: Hon. Turay Cajoles UNESCO Investors
NOTICES & DOCUMENTS
NATCOM Chair Momoh Konte Acclaims ITU as Big Data Confab conclude
Leone Preparatory School troubles Sierra Leone Education Board
IN LOVING AND AFFECTIONATE MEMORY OF OUR DEAR MOTHER, AUNT, GRAND MOTHER, SISTER AND FRIEND HARRIETTE ISATTA TURAY
PAID SUPPLEMENTS
Sierra Leone Health Ministry Hails International Insurance Company
Sierra Rutile in Advertorial on its activities
ADVERTISEMENTS
EBOLA Breaking ‘NEWS’ - Do you seek good for Kenema & Kailahun?
SATIRE
SPECIAL POEM : A Tale of 2 Women
SLPP, be Grateful to Lt. Maada Bio

Copyright © 2005 - 2010, Awareness Times Sierra Leone; All Rights Reserved.
Hosted & Designed by West Africa Dot Net