PUBLIC ENTERPRISES MONITORING & EVALUATION

Main areas of responsibility and services offered

Public Enterprises Monitoring Unit (now known as Public Enterprises Monitoring and Evaluation Board (PEMEB)) was established on 1st March 1995 to ensure that all Public Enterprises (PE’s) operate in an efficient manner, with minimum expenditure from Government (GoM) in support of the PE’s activities.

The PEMEB’s task is to accelerate the restructuring of Maldivian PE’s in an integrated and coherent manner, to promote economic growth, socio-economic development and ultimately, a better life for all Maldivians.

PEMEB monitors 24 PE’s at present, and has a mandate to set policy objectives for the government with regard to all the PE’s. Functions

PEMEB has the following main functions:

Public Enterprise sector reform.
Make all PE’s operated as commercial ventures in a competitive environment and rationalise & review public involvement in the economy.
Monitor and analyse financial performance of PE’s.
Ensure that the GoM receives adequate returns on its investments in the PE’s.
Increase private sector participation in PE’s, with a long-term outlook to fully privatise.
Standardize financial records and auditing practices of PE’s and promote good governance & transparency in the PE’s.