Senate to probe BPE (Who will probe the Senate?)

Posted by admin Headlines, Legislature, Senate Tuesday, July 19th, 2011

The Senate, on Tuesday set up an adhoc committee to investigate the privatisation and commercialisation activities of the Bureau of Public Enterprises (BPE) from 1999 to date.

The committee, which has two weeks within which to submit its report, has Senator Ahmad Lawan as chairman while Senators Babafemi Ojudu, Alli Ndume, Philip Aduda, Infeayi Okowa, Hope Nzodima and Mohammed Magoro are members.

The committee is to investigate the process through which the BPE privatised companies and established agreements and conditions upon which the privatisation was consummated.

It would also determine how much was realised from the sale of the companies and where the proceeds were paid into and how many jobs were lost and gained after the privatisation of companies.

It would also identify factors that are militating against the expected improved and good performance of the privatised companies.

Equally, it would hold public hearing to enable interested stakeholders make presentations on the best way forward with the privatisation and the desirable development and growth of the sold companies.

The setting up of the committee was sequel to a motion moved by Senator Ahmad Lawan who, incidentally, would chair the committee.

The Federal Government embarked on the privatisation and commercialisation of federal public enterprises through the enactment of the Privatisation and Commercialisation Act No 25 of 1988, Bureau of Public Enterprises Act No 78 of 1993 and Public Enterprises Act of 1999.

-Tribunewp_posts