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Perry Pahladsingh


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Presentation on Governance in the Public Sector

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Perry Pahladsingh

  1. 1. Governance in the Government and the Public Sector Lessons from Change Perry Pahladsingh 1
  2. 2. Topics The New Introduction Road Ahead Agenda for the Public Sector After the Crisis Risk Managment Challenges Exit Strategy Sovereign Wealth Regain Opportunities Funds confidence of the public
  3. 3. Introduction After the Crisis New borders Governance – between Public Movement to Growing concern and Private IFRS/IPSAS over stewardship Sector 3
  4. 4. Introduction After the Crisis • Debt incurred by the stimulus packages and bailouts leads to an increased pressure to become more efficient. 4
  5. 5. Introduction After the Crisis •Governments have: •Extended credits to banks •Guaranteed liabilities of banks •Purchased impaired debt instruments •Assumed control of banks •Government as a major shareholder set rules for operations and management: •Fuel efficient cars •Restrictions on salaries and bonuses for the board room •Change of CEO
  6. 6. Introduction After the Crisis • Three important lessons – Stimulus programs need to be administered carefully and transparently to help rebuild trust and confidence – High debt levels: governments cannot return to business as usual – Only a bold reform agenda can turn the crisis into an advantage 6
  7. 7. Introduction Sovereign Wealth Funds • Wholly owned government entities that invest a nation’s surplus wealth • High-profile transactions • Government of Singapore: UBS US$ 61.3 Million • Government of Singapore: Citigroup US$ 6,880 Million • Mudabala (UAE): Carlyle Group US$ 1,350 Million • Qatar Investment: Credit Suisse US$ 500 Million • Mudabala: Air Berlin and Etihad US$ 130 Million • Dubai Plans to acquire P&O-shipping
  8. 8. Introduction Sovereign Wealth Funds
  9. 9. Introduction Sovereign Wealth Funds
  10. 10. Introduction Sovereign Wealth Funds Initially Current • US Banking, Financial • Manufacturing & Services and Real Estate Services • Passive Investor • Partnerships and Joint- Ventures Increased Need for greater political, media operational and public transparency scrutiny
  11. 11. Introduction Sovereign Wealth Funds
  12. 12. Introduction Sovereign Wealth Funds • Santiago Principles Legal Framework, Institutonal Investment and objectives and Framework and Risk coordination Governance Management with Structure Framework macroeconomic policies
  13. 13. Road Ahead Challenges • Keep public deficit under control • Cost-cutting may be counterproductive • Direct Management by Government • To tax or not to Tax
  14. 14. Road Ahead Opportunities Indian Easier Infrastrucure Settle invoices procurement for E-government: Finance on a 10-day vendors to applying for ID’s Company: 70 basis compete million jobs by 2010
  15. 15. Change… in the Public Sector And those of us who manage the public's dollars will be held to account — to spend wisely, reform bad habits, and do our business in the light of day — because only then can we restore the vital trust between a people and their government.
  16. 16. Change… in the Public Sector
  17. 17. Change… in the Public Sector
  18. 18. The New Agenda for the Public Sector Regain Risk Exit Strategy Confidence Management of the Public
  19. 19. Disclaimer Copyright © 2010 Pahladsingh Accountancy & Consultancy All rights reserved. No part of this publication may be translated, reprinted or reproduced or utilised in any form (either in whole or in part) or by any electronic, mechanical or other means now known or hereafter invented (including photocopying and recording) or in any information storage and retrieval system without prior permission in writing from Pahladsingh Accountancy & Consultancy. Pahladsingh Accountancy & Consultancy does not accept responsibility for loss caused to any person who acts (or refrains from acting) in reliance on the material in this publication, whether such loss is caused by negligence or otherwise. 19