The Board of EFCL was reported to have dismissed its CEO after he failed/refused to comply with their directions in a certain matter. There are allegations reported that the Cabinet attempted to direct the EFCL Board, which raises the perennial issue of the nature and extent of Cabinet authority over State Enterprises.
From both the Companies Act and the recent High Court/Appeal Court rulings in the eTECK matter, it seems clear to me that the Board of Directors have fundamental responsibility for the direction and control of the company. That is the legal position, but it seems that our fundamental political culture and conduct is in real conflict with notions of independent professional responsibility.
The State Enterprise sector is once again the subject of public concern on the good governance issues of accountability and transparency. Where does the power lie?
This is a continuation of my examination of the National Housing Policy (2002), its implementation and the associated implications.
Over the last year I engaged with HDC’s management who cooperated with me, much like the previous team. I asked about new homes produced by the National Housing Authority (NHA) and the Housing Development Corporation (HDC) in the period January 1st 2003 to December 31st 2015 to establish a) the output of completed homes; b) numbers of new homes distributed; c) the tenures of those homes and finally, d) compliance with the allocation criteria established by the 2002 policy.
This is my interview on the ‘Essential Public Interests at stake in the Invaders’ Bay development‘ Power 102.1FM’s ‘Power Breakfast‘ on Thursday, 15 December 2016 with Rhoda Bharath and Wendell Stephens.
There is a rising tide of confusion at Invaders’ Bay, so it is time to bring some understanding to this situation. The previous column delved into the Appeal Court rulings and the State’s application to appeal to the Privy Council. There is a lot more to be derived from those important rulings, but this week I am restating the case as to why this is a large-scale development of major importance.
In March 2012, Dr Bhoendradatt Tewarie, the then Minister of Planning & Sustainable Development, confirmed that the 70-acres of undeveloped land at Invaders’ Bay was worth $1.28Bn. This would be the largest single development in our capital city in living memory, the only questions being ‘On whose terms?‘ and ‘For whose benefit?‘
In 2012, the PP Cabinet decided to lease two parcels of land at Invaders’ Bay –
Dachin: 10.2 acres for a Commercial/Residential complex, a boutique hotel, a cultural focus area and three (3) main event entertainment areas comprising a Museum, Bowling Alley and Movie Theatres. View video presentation here.
Invader’s Bay Marina Group: Commercial Development on 13 acres for Hotel, Commercial Office Complex, Cruise Ship Complex; Gas Station; Residential Development and Light Industrial Development; a Marina.