AS per OECD latest Report, Middle
Eastern and North African countries should reform the governance of their
state-owned enterprises to bring about greater public accountability and
improve their efficiency.
State-owned enterprises account for as much as half of the economic output
in some MENA countries, the report estimates. They also provide close to 30
per cent of all jobs, compared with 2-3 per cent in OECD countries. More than
30 per cent of the largest listed companies in the region have a state ownership
stake, while large unlisted state-owned firms dominate the natural resource
sectors.
Privatisation is not the only answer to reforming
state-owned firms, says the report. Strengthening the governance of firms and
increasing transparency and accountability is essential.
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