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STRUCTURE

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 VALUES

Excellence

Good Governance

Teamwork

Honor

Growth

Partnerships

Overcoming and innovative spirit

Responsibility

Welcome changes

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The PEMC was established by the PEMC Act 2013 to supervise and evaluate the overall performance of the Public Enterprises. Although autonomous, the Commission reports directly to its parent ministry, the Ministry of Finance, Trade Investment and Economic Planning.

 

PEMC is governed by a Board of Commissioners whereby the Minister determines the appointments  as stipulated under Section 7 of the PEMC Act. The Commission is headed by the Chief Executive Officer whereby the appointment is determined by The President.

 

 

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Meet The Chief Executive Officer

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MR. GEORGES TIRANT

Mr. Georges Tirant was appointed the Chief Executive Officer of the Public Enterprise Monitoring Commission in July 2017.

 

He started his career with the Central Bank of Seychelles as an Insurance Supervision Officer in 2008.  In 2009 he was promoted to the post of Director of Insurance Supervision within the same institution.

 

In January 2011 Mr. Tirant was appointed Director for Consumer Protection within the Seychelles’ Fair Trading Commission, a new institution established in 2009 to protect consumers and the competition process within the Republic.

 

In March 2013, he became the CEO of Fair Trading Commission until his appointment at the Public Enterprise Monitoring Commission.

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THE CHAIRPERSON

Mr. William Zarine

ceo's secretariat

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  Secretariat is responsible for:

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  • Overseeing the day to day running of the Commission.

  • Undertaking secretarial duties.

  • The upkeep and maintenance of a library for the Commission.

  • Maintaining both soft and hard copies of relevant documents and continuously update the database. Submitting to the National Assembly a copy of the Audited Accounts of the PEs.

  • Requesting any CEO or Chairperson of any PE to appear before the Commission to clarify any issues regarding the governance, finance or any other aspects covered within the Act.

human resources and administrative office

This division ensures that:

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  • Adequate human resources and financial support is given to the Commission.

  • Proper accounting software is put in place to facilitate financial transactions.

  • Proper books of accounts are kept.

  • A physical and electronic filing system is created and continuously updated.

Our Units

Governance and
Compliance unit

This Division is responsible for the following:

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  • For the implementation of the PEMC Act. No.3 of 2013 and to monitor compliance with the governing law.

  • Ensuring adherence by Public Enterprises to policies and guidelines formulated by the Commission, Ministry of Finance and the responsible Ministry.

  • Arranging investigation or inspection into the affairs of a Public Enterprise and where necessary in the public interest.

  • Work in close collaboration with respective government departments to ensure that their current policies and regulatory environment are conducive to the PEs operation for them to better serve the public interest.

  • Reviewing and updating existing guidelines.

  • Developing appropriate systems and frameworks to promote good governance best practices by introducing and monitoring governance indicators.

  • Creating an Institute of Directors in consultation with relevant stakeholders.

  • Assisting in board appointment and continuously updating the data base on the board appointment.

  • Develop tools to assess governance in public enterprises.

  • Carrying out governance audit within all public enterprises and submit reports to the Minister of Finance and the Responsible Minister.

  • Making recommendations on matters relating to the functions of the Board of PEs concerning governance and their adherence to approved policies and guidelines.

  • Carrying out research regarding best practices worldwide which can improve the work of the Commission and the PEs.

financial ANALYSIS unit

The main responsibilities of this unit are:

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  • Establishing and maintaining a database of financial data pertaining to the Public Enterprises.

  • Establishing a standardised reporting procedure to collect relevant information from Public Enterprises and key stakeholders in order to identify fiscal risks.

  • Developing and applying technical tools to analyse and quantify fiscal risks from Public Enterprises, on an individual and aggregate level.

  • Establishing a standardised reporting procedure to provide the outcome of the fiscal risk analysis to policy makers and other key stakeholders in a timely manner to enable them to make informed decisions on mitigating fiscal risks from Public Enterprises.

  • Assessment of monthly financial statements to prepare quarterly reports for submission to the Minister for Finance.

  • Assessment of annual management accounts, Annual Financial Statements (AFS), reports and budget for:

  • Issues relating to financial risks

  • Issues inhibiting the realisation of set revenue targets/performance

  • Assessment of ad-hoc financial information to advise the Boards of the Public Enterprises, the Ministry of Finance and other stakeholders.

  • Strengthening working relationship with key stakeholders for the exchange of information.

  • Recommending investigations into the affairs of the Public Enterprise where necessary in the public interest.

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