As the Government of Liberia heavily depends on what it generates in revenues to expend on goods and services, including employees’ salaries and incentives, State-Owned Enterprises ( SOEs) are counted highly amongst spending government entities to contribute to every fiscal budget of the country.
However, under the Unity Part-led administration of President Joseph Nyuma Boakai, State-Owned Enterprises are reportedly becoming ‘ political susu cards’ in Liberia, aimed at fast-tracking the deals of government’s operatives. Past governments used to also be accused of shady deals linked to using SOEs’ revenues for covet operations.
Amongst SOEs, Liberia Petroleum Refining Corporation (LPRC), Forestry Development Authority (FDA), National Social Security Welfare Corporation (NASSCORP), Liberia Telecommunication Authority (LTA), Liberia Revenue Authority (LRA), Liberia Maritime (LMA), Roberts International Airport (RIA) and Liberia Water & Sewer Corporation (LWSC) are often expected to immensely contribute to the national budget in support of government’s financial standing in steering the affairs of the state.
However, public concerns indicate that some operatives of government well seated at most of these SOEs allegedly divert finances meant for contribution to national budget, to offset obligations that do not fall in line with the scopes of operations of these spending entities.
“ These SOEs are allotted millions of dollars in the national budget based on their promised commitment to contribute to the fiscal budget, but they can’t meet up with their targets because they use the money for different reasons,” one budget analyst has claimed.
The analyst said one of the cover-ups being used by those who have decision making power at some of the SOEs is to use the revenues generated in the name of ‘corporate social responsibility’ to attend to humanitarian services.
“The budget pitfalls our government can experience are sometimes due to unfulfilled contributions to our fiscal budget. People go to these spending entities behind the scene and collect money to fill gaps of their interests,” another financial expert claimed.
In the wake of these mounting public concerns, one of the SOEs that has reportedly fallen short of its share of the budget support is the National Port Authority. Accordingly, NPA Managing Director Sekou Dukuly is quoted as indicating that management cannot meet its benchmark in support of the national budget because part of their contribution is being used for ‘operations’.
The National Social Security Welfare Corporation (NASSCORP) also seems to be gradually slapping into bankruptcy because critics observed that the corporation has become a ‘lending entity’ for key influential officials of government designated to undertake ‘mission projects’ to showcase future elections’ campaign roadmap.
Though claims by critics are often debunked by those in authority, government’s pensioners are said to be finding it extremely difficult to get their benefits from NASSACORP nowadays from as expected.
Recently, panelists of Spoon Talk delved into public concerns on the roles of SOEs as government functionaries. The concerns discussed by well learned Liberians on the talk show gave Economist Sam Jackson to assert that most appointments made at the SOEs are politically driven to satisfy the power-that-be.
Mr. Jackson noted that by right, people who occupy key positions at these entities should be experts who understand the dictates of ‘ corporate social responsibility’, especially when it comes to how, when and where funding from the SOEs should be used to make the needed imparts.
Economist Jackson and other panelists on the talk-show including Montserrado County Representative Acarious Gray said what appears to be unfolding at most of the SOEs is completely out of order. They recommended that these entities be audited not only by the General Auditing Commission, but also by independent international firms to ensure transparency and accountability in fighting corruption in government.