It is aimed at improving governance of state-owned enterprise by May 2024 as part of anti-corruption efforts following an International Monetary Fund (IMF) governance diagnostic assessment

A legislation is now being drafted to boost governance providing provisions to cut down fiscal powers currently given to board of governors and directors of state owned entities he elaborated.

Moreover the power of deciding salary structures and increments of the staff of SOEs including the Central Bank and state banks will be vested in the finance ministry and Parliament.

.According to the draft SOE act, state owned enterprises will only be given administration powers and powers to take financial policy decisions on decisions.it will be not be given any authority to increase salaries of employees.