Comptroller of Statutory Corporations, Peter Simbani, has urged commercial statutory corporations to turn their losses into profits to reduce their reliance on government bailouts.
Speaking at the Corporate Governance Orientation Workshop at Nkopola Lodge in Mangochi, Simbani stressed that entities like ESCOM and the Water Board were established to be self-sustaining and operationally independent.
He expressed disappointment that these organisations seek financial support from the treasury when the government, as a shareholder, expects dividends.
In her remarks, Ombudsman Grace Malera highlighted the importance of maintaining integrity, particularly in the recruitment of officers for higher positions.
This sentiment was echoed by the Board Chairperson for the Malawi Broadcasting Corporation, Reverend Vasco Kachipapa, who acknowledged the issue and noted that MBC is performing well in this regard.
The workshop was attended by board members and senior officers from fully subvented, semi-subvented, and commercial statutory corporations.
