Three state-owned entities in the power and petroleum sectors of Ghana made it to the top 10 best performing Public Enterprises League Table (PELT) in 2023.
The Volta River Authority (VRA) scored 4.098 points to place fifth position; Ghana National Petroleum Corporation (GNPC) scored 4.080 to place 6th position, while Bulk Energy Storage and Transportation Company (BEST), formerly BOST, scored 4.067 to place 7th position.
The PELT Awards, held at Rock City Hotel at Kwahu in the Eastern Region, saw the Food and Drugs Authority (FDA) scoring 4.335 to emerge as the overall Best Performing State-Owned Entity in 2023, followed by the Ghana Civil Aviation Authority (GCAA) which scored 4.247 to place second.
The PELT Awards, an innovation of the Minister of Public Enterprises, Hon. Joseph Cudjoe, seeks to introduce a carrot and stick approach in the management of Specified Entities, where outstanding entities are rewarded, while their underperforming contemporaries are rightfully sanctioned.
It was instituted in 2022 with the aim of fostering competition among public enterprises to enhance performance.
Source: https://energynewsafrica.com