Expression Of Interest For Improving Pacific Public Financial Management Facility Improving State Owned Enterprise Governance Project

Expression Of Interest For Improving Pacific Public Financial Management Facility Improving State Owned Enterprise Governance ProjectObjective And Purpose Of The Assignment The Nauru Soe Portfolio Comprises 10 Entities Nauru Air Na Nauru Utilities Corporation Nuc Nauru Ports Authority Npa Ronphos Nauru Rehabilitation Corporation Nrc Nauru Fisheries And Marine Resource Authority Nfmra Eigigu Holdings Corporation Ehc Nauru Rpc Corporation Nrpcc Naoero Postal Corporation Npc And Cenpac Corporation Cc Nine Of Nauru S Soes Are Established Under Their Own Legislation While Eigigu Is Incorporated Under The Corporations Act 1972 Nauru Air While Established Under The Nauru Air Act 1995 Is Incorporated Under The Australian Corporations Act 2001 Generally The Governance And Accountability Arrangements Applying To The Soes Have Been Opaque Which Has Meant That Poor Performance Has Not Been Recognized And The Performance Drivers Hard To Identify Soes Service Delivery Is Generally Weak Which Is Also Reflected In Their Poor Financial Performance Some Soes Require Ongoing Fiscal Support And 2 Have Their Financial Transactions Undertaken By The Ministry Of Finance Mof In Creating Soes The Government Has A Responsibility To Ensure That They Are Run Efficiently And In The Best Interest Of Their Ultimate Owners The People Of Nauru The Public Enterprise Act Passed Into Law In June 2019 Establishes Two Classes Of Public Enterprises State Owned Enterprises Soes That Are Required To Operate Within A Commercial Mandate And To Be Profitable And Government Controlled Enterprises Gces Which Are Not For Profit Entities Required To Be Effective And Efficient Generally All The Governance Reporting Accountability And Monitoring Requirements Established Under The Soe Ownership And Reform Policy And The Public Enterprise Act Pe Act Apply To Both Soes And Gces Unless It Is Explicitly Stated That They Do Not For The Purposes Of These Tors The Term Soe Is Used To Include Both Soes And Gces As Defined In The Pe Act Poorly Performing Soes Place A Heavy Burden On Naurus Economy They Absorb Large Amounts Of Scarce Capital On Which They Provide Very Low Returns Divert Government Resources Away From Vital Social Investments In Health And Education And Drive Up The Costs Of Doing Business Where They Are The Sole Service Providers Soes Should Be Expected To Generate A Commercial Return On The Government S Investment Many Have Instead Generated Operating Losses And Often Failed To Prepare Required Financial Reports In November 2018 Cabinet Adopted A Soe Ownership And Reform Policy That Adopts International Good Practices In Government Oversight Of Soes And Their Governance Financial And Operating Reporting Accountability And Monitoring The Principles In The Soe Ownership And Reform Policy Were Incorporated Into The Pe Act Scope Of Work The Consultant S Responsibilities Will Include The Following A Assist In The Establishment Of The Public Enterprise Monitoring Unit Pemu Including Developing Position Descriptions For Its Establishment Staff And Recommending The Equipment And Facilities The Pemu Will Require To Perform Its Functions B Develop An Effective Soe Ownership Monitoring Process Consistent With The Framework Established In The Pe Act And In Particular I Develop A Tool To Capture And Allow Analysis Of The Performance Of The Individual Soes And Portfolio As A Whole Ii Develop Spreadsheets To Record And Analyse Financial Data And Provide Training To Staff In Its Use Iii Develop Financial And Non Financial Key Performance Measures For Each Soe C Undertake Training On The Preparation And Use Of The Key Accountability Documents D Develop Templates For Statements Of Corporate Intent And Business Plans In Consultation With Pemu And Soes For Use By The Soes E Assist The Soes To Prepare Statements Of Corporate Intent And Business Plans In Accordance With The Requirements Of The Pe Act F Assist The Soes Identify Any Community Service Obligations And Where Relevant Facilitate The Development Of Community Service Obligations Agreements As Stipulated In The Pe Act G Provide Ongoing Training And Mentoring For Soe Monitoring Staff So That At The End Of The Assignment They Will Have The Tools And Knowledge Required To Be Effective Soe Ownership Monitors GovernanceA Develop A Skills Based Soe Director Selection And Appointment Process For Recommendation To The Cabinet That Includes Gender Equality Initiatives B Undertake A Series Of Soe Director Training Workshops That Cover The FollowingI Corporate Governance Principles With Special Focus On SoesIi Board Management CommitteesIii Planning And ReportingIv Directors Duties And Conflicts Of InterestV Investment AssessmentVi Community Service Obligations Identification And ContractingVii Director Selection Appointment And ReviewsViii Contracting Out And Public Private PartnershipsC Support The Responsible And Accountable Ministers And The Pemu Undertake Director Selection In Accordance With The Requirements In The Pe Act Reform PipelineA Assist The Pemu Develop A Reform Pipeline For Each Soe AndB Assist The Pemu And Soes Implement The Portfolio Wide And Soe Specific Reforms Detailed In The Approved Soe Reform Pipeline And Provide Transaction Support As Appropriate Other WorkA Support Other Reform Work To Implement The Pe Act As Directed By The Adb Project Officer 5 The Consultant S Will Report To The Secretary Of Finance And Cabinet Secretary On Progress The Consultant S Will Act Under The Management Oversight Of The Project Officer Adb Plco Sydney

5,00,000 - USD