The Public Enterprise Monitoring Commission, tasked with promoting good governance, transparency, and accountability in state-owned enterprises, is satisfied with the Public Utilities Corporation’s financial and operational performance in 2024, compared to 2023.
The comment was made by the acting chief executive of the Public Enterprise Monitoring Commission (PEMC), Kalum Bandara, during a press conference yesterday afternoon at L’Escale Resort Marina and Spa, Providence, after attending the corporation’s first-ever annual general meeting for its main shareholder, the government, represented by the Ministry of Finance, National Planning and Trade.
“As PEMC, our primary objective is to maximise shareholder value while ensuring that each public enterprise delivers optimal returns to society, both financially and socially,” stated Mr Bandara.
“In 2024, PUC has demonstrated strong financial performance and notable growth in its asset base. Operationally, we’ve seen significant improvements in their delivery of electricity, water, and sewage services to the public and overall, we are pleased in what have been achieved, added Mr Bandara, who also emphasised that PEMC is closely monitoring the corporation’s future plans and strategic direction.
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