2. Management 1) Implement measures for Improved Energy MEI, State Property 2014 modernization improving management management of Fund, Ministry of companies’ and ensuring and procedures and energy funds; Raised Economy financial mechanisms of companies, funds from the sustainability transparency in all energy increased development companies, including the transparency in partners following: their activities - Recommendations to Improvement of Decisions by each company to form an organizational energy companies Internal Audit Departments structure, to introduce (IAD), and introduce streamline amendments to the relevant amendments to business charters companies’ the constituent documents processes, and introduce companies’ organizational structure. The IAD staff shall be Management accountable only to the Information Board of Directors; Systems - Introduce amendments to Strengthen Contracts on contracts with the responsibility of introducing members of the Board of the members of amendments and Directors of each energy Board of additions into the company; Directors for contracts with the assuring the Board of Directors steady members improvement in the company’s commercial operations and achievement of indicators specified by the Performance Agreements signed with the MEI and Department for Regulating FES
2. Management modernization and ensuring financial sustainability 1) Implement measures for improving management and procedures and mechanisms of transparency in all energy companies, including the following: - Recommendations to each company to form an Internal Audit Departments (IAD), and introduce relevant amendments to the constituent documents and companies’ organizational structure. The IAD staff shall be accountable only to the Board of Directors; - Introduce amendments to contracts with the members of the Board of Directors of each energy company; Improved management of energy companies, increased transparency in their activities Improvement of organizational structure, streamline business processes, introduce Management Information Systems Strengthen responsibility of the members of Board of Directors for assuring the steady improvement in the company’s commercial operations and achievement of indicators specified by the Performance Agreements signed with the MEI and Department for Regulating FES Decisions by energy companies to introduce amendments to the companies’ charters Contracts on introducing amendments and additions into the contracts with the Board of Directors members Energy companies’ funds; Raised funds from the development partners MEI, State Property Fund, Ministry of Economy 2014
Action%20Plan_approved%20by%20PM_received%20from%20the%20MEI.docx