Cabinet will approve a plan enabling TCC Authority Limited achieve their to operate as a successful business as target ROE. defined in the Public Enterprise Act, GoT with donor support (ADB) through restructuring and/or full or partial Full compliance with the Public privatization. (ADB) Enterprises (PE) Act, including: Full compliance with the Progress towards full compliance with the Cabinet approved skills based Public Enterprises (PE) Act, including: director selection and Cabinet approves a SOE director appointment process skills-based selection and 100% of SOEs have appointment process consistent completed the director with requirements of the PE Act; performance process and 100% of PEs and Cabinet comply questionnaire. with the GoT Policy Obligation 100% of SOEs have audited provisions in the PE Act; financial accounts for the 60% of SOEs have audited annual financial year to June 2013 (or accounts for financial year to June December 2013 as 2012 (or December 2012 as appropriate) complete and appropriate) complete and have have published summary published summary results in results in local newspapers as newspapers as required by PE required by the PE Act. Act. (ADB) Business Environment Reform Cabinet approves submission to Cabinet approves Competition ADB PSDI assistance GoT/Cabinet with donor support Parliament of Receivership Bill revisions provided to Ministry of Policy. (ADB) of the Business Act. (ADB, WB & Commerce to inform policy AusAID) decisions, prepare legislative Cabinet approves submission of GoT/Cabinet with donor support revisions, and draft new Bankruptcy Bill to the Legislative (ADB) legislation. Assembly. (ADB) Government will submit to GoT with support (ADB, WB Parliament revisions to enable & AusAID) foreign investment in the fisheries and agriculture sectors. Extended Government of Tonga Reform Matrix (Including non-binding actions and indicative actions for 2015)
Cabinet will approve a plan enabling TCC to operate as a successful business as defined in the Public Enterprise Act, through restructuring and/or full or partial privatization. (ADB) Progress towards full compliance with the Public Enterprises (PE) Act, including: Cabinet approves a SOE director skills-based selection and appointment process consistent with requirements of the PE Act; 100% of PEs and Cabinet comply with the GoT Policy Obligation provisions in the PE Act; 60% of SOEs have audited annual accounts for financial year to June 2012 (or December 2012 as appropriate) complete and have published summary results in newspapers as required by PE Act. (ADB) Authority Limited achieve their target ROE. Full compliance with the Public Enterprises (PE) Act, including: Full compliance with the Cabinet approved skills based director selection and appointment process 100% of SOEs have completed the director performance process and questionnaire. 100% of SOEs have audited financial accounts for the financial year to June 2013 (or December 2013 as appropriate) complete and have published summary results in local newspapers as required by the PE Act. GoT with donor support (ADB) Business Environment Reform Cabinet approves submission to Parliament of Receivership Bill revisions of the Business Act. (ADB, WB & AusAID) ADB PSDI assistance provided to Ministry of Commerce to inform policy decisions, prepare legislative revisions, and draft new legislation. Cabinet approves Competition Policy. Cabinet approves submission of Bankruptcy Bill to the Legislative Assembly. (ADB) Government will submit to Parliament revisions to enable foreign investment in the fisheries and agriculture sectors. GoT/Cabinet with donor support (ADB) GoT/Cabinet with donor support (ADB) GoT with support (ADB, WB & AusAID) Extended Government of Tonga Reform Matrix (Including non-binding actions and indicative actions for 2015)
tonga-economic-public-sector-governance-delivery-strategy.docx