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| 42 | "notes": "The PMRC Parastatal Analysis highlights the central role | 42 | "notes": "The PMRC Parastatal Analysis highlights the central role | ||
| 43 | that parastatal bodies and statutory institutions play in | 43 | that parastatal bodies and statutory institutions play in | ||
| 44 | Zambia\u2019s social and economic development. These entities provide | 44 | Zambia\u2019s social and economic development. These entities provide | ||
| 45 | essential services in sectors such as energy, water, transport and | 45 | essential services in sectors such as energy, water, transport and | ||
| 46 | education, making their financial health and governance important for | 46 | education, making their financial health and governance important for | ||
| 47 | national progress. The report notes that many state-owned enterprises | 47 | national progress. The report notes that many state-owned enterprises | ||
| 48 | continue to struggle financially, with only a small number generating | 48 | continue to struggle financially, with only a small number generating | ||
| 49 | profits or declaring dividends despite holding significant national | 49 | profits or declaring dividends despite holding significant national | ||
| 50 | assets.\r\nA major concern raised in the analysis is weak governance. | 50 | assets.\r\nA major concern raised in the analysis is weak governance. | ||
| 51 | Several institutions either failed to produce audited financial | 51 | Several institutions either failed to produce audited financial | ||
| 52 | statements or did so inconsistently. Many also struggled to remit | 52 | statements or did so inconsistently. Many also struggled to remit | ||
| 53 | statutory contributions, which created large arrears and exposed | 53 | statutory contributions, which created large arrears and exposed | ||
| 54 | serious internal control gaps. Additional issues included poor | 54 | serious internal control gaps. Additional issues included poor | ||
| 55 | procurement practices, unsupported expenditures, and challenges in | 55 | procurement practices, unsupported expenditures, and challenges in | ||
| 56 | recovering loans and advances.\r\nThe report also points to persistent | 56 | recovering loans and advances.\r\nThe report also points to persistent | ||
| 57 | governance problems such as incomplete or frequently dissolved boards, | 57 | governance problems such as incomplete or frequently dissolved boards, | ||
| 58 | irregular meetings and limited compliance with corporate-governance | 58 | irregular meetings and limited compliance with corporate-governance | ||
| 59 | standards. Overlapping mandates between government institutions | 59 | standards. Overlapping mandates between government institutions | ||
| 60 | further complicate oversight and accountability.\r\nPMRC concludes | 60 | further complicate oversight and accountability.\r\nPMRC concludes | ||
| 61 | that improving performance will require strict enforcement of public | 61 | that improving performance will require strict enforcement of public | ||
| 62 | finance laws, stronger monitoring by oversight institutions, | 62 | finance laws, stronger monitoring by oversight institutions, | ||
| 63 | consistent board training, and clear governance frameworks. With | 63 | consistent board training, and clear governance frameworks. With | ||
| 64 | better management and accountability, parastatals have the potential | 64 | better management and accountability, parastatals have the potential | ||
| 65 | to contribute more effectively to national development.", | 65 | to contribute more effectively to national development.", | ||
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| 73 | stakeholders on economic and social issues. Its work focuses on | 73 | stakeholders on economic and social issues. Its work focuses on | ||
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| 104 | "description": "The PMRC Parastatal Analysis highlights the | 104 | "description": "The PMRC Parastatal Analysis highlights the | ||
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| 106 | Zambia\u2019s social and economic development. These entities provide | 106 | Zambia\u2019s social and economic development. These entities provide | ||
| 107 | essential services in sectors such as energy, water, transport and | 107 | essential services in sectors such as energy, water, transport and | ||
| 108 | education, making their financial health and governance important for | 108 | education, making their financial health and governance important for | ||
| 109 | national progress. The report notes that many state-owned enterprises | 109 | national progress. The report notes that many state-owned enterprises | ||
| 110 | continue to struggle financially, with only a small number generating | 110 | continue to struggle financially, with only a small number generating | ||
| 111 | profits or declaring dividends despite holding significant national | 111 | profits or declaring dividends despite holding significant national | ||
| 112 | assets.\r\nA major concern raised in the analysis is weak governance. | 112 | assets.\r\nA major concern raised in the analysis is weak governance. | ||
| 113 | Several institutions either failed to produce audited financial | 113 | Several institutions either failed to produce audited financial | ||
| 114 | statements or did so inconsistently. Many also struggled to remit | 114 | statements or did so inconsistently. Many also struggled to remit | ||
| 115 | statutory contributions, which created large arrears and exposed | 115 | statutory contributions, which created large arrears and exposed | ||
| 116 | serious internal control gaps. Additional issues included poor | 116 | serious internal control gaps. Additional issues included poor | ||
| 117 | procurement practices, unsupported expenditures, and challenges in | 117 | procurement practices, unsupported expenditures, and challenges in | ||
| 118 | recovering loans and advances.\r\nThe report also points to persistent | 118 | recovering loans and advances.\r\nThe report also points to persistent | ||
| 119 | governance problems such as incomplete or frequently dissolved boards, | 119 | governance problems such as incomplete or frequently dissolved boards, | ||
| 120 | irregular meetings and limited compliance with corporate-governance | 120 | irregular meetings and limited compliance with corporate-governance | ||
| 121 | standards. Overlapping mandates between government institutions | 121 | standards. Overlapping mandates between government institutions | ||
| 122 | further complicate oversight and accountability.\r\nPMRC concludes | 122 | further complicate oversight and accountability.\r\nPMRC concludes | ||
| 123 | that improving performance will require strict enforcement of public | 123 | that improving performance will require strict enforcement of public | ||
| 124 | finance laws, stronger monitoring by oversight institutions, | 124 | finance laws, stronger monitoring by oversight institutions, | ||
| 125 | consistent board training, and clear governance frameworks. With | 125 | consistent board training, and clear governance frameworks. With | ||
| 126 | better management and accountability, parastatals have the potential | 126 | better management and accountability, parastatals have the potential | ||
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| 150 | "rights": "This document and trademark(s) contained herein are | 150 | "rights": "This document and trademark(s) contained herein are | ||
| 151 | protected by the laws of The Republic of Zambia. This electronic | 151 | protected by the laws of The Republic of Zambia. This electronic | ||
| 152 | representation of PMRC intellectual property is provided for non- | 152 | representation of PMRC intellectual property is provided for non- | ||
| 153 | commercial use only. Unauthorized posting of PMRC electronic documents | 153 | commercial use only. Unauthorized posting of PMRC electronic documents | ||
| 154 | to a non-PMRC website is prohibited. PMRC electronic documents are | 154 | to a non-PMRC website is prohibited. PMRC electronic documents are | ||
| 155 | protected under copyright law. Permission is required from PMRC to | 155 | protected under copyright law. Permission is required from PMRC to | ||
| 156 | reproduce, or reuse in another form, any of our research documents for | 156 | reproduce, or reuse in another form, any of our research documents for | ||
| 157 | commercial use. For information on reprint and linking permissions, | 157 | commercial use. For information on reprint and linking permissions, | ||
| 158 | please see PMRC Permissions . (www.pmrczambia.com/copyright).", | 158 | please see PMRC Permissions . (www.pmrczambia.com/copyright).", | ||
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| 164 | "name": "PMRC", | 164 | "name": "PMRC", | ||
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