Not many people may know that the National Commission for Privatization (NCP) is a revenue generating institution.
In exercise of its statutory mandate, the NCP, acting as prudential shareholder on behalf of Government has signed agreements with public and private enterprises that has witnessed the transfer of funds to Government coffers. Such funds are technically called Privatization Proceeds.
Between March and August this year, NCP has generated and transferred to the Government of Sierra Leone and the Consolidated Revenue Fund the sum of 42 Billion Leones.
The amount has primarily come from the Bollore Container Terminal Concession and License fees, bulk cargo terminal Nectar, and the Transport and Ports Management Systems (TPMS) West Africa Sierra Leone tracking note project. The latter is a private venture aimed at complementing government’s efforts at deterring the entry of illicit cargo into the country.
In spite of this laudable achievement, the Commission in presenting its 2018 – 2020 budget to the Citizen’s Budget Hearing Committee recently highlighted funding constraints as a major challenge to its operations. Another constraint, according to the Commission is the lack of utility vehicles for its Secretariat.
Various civil society representatives present at the budget hearing session lauded the efforts of the NCP and agreed that the institution be adequately funded
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