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PRESS RELEASE -VISIT OF
HONOURABLE MINISTER OF FINANCE TO PRIVATISATION UNIT PRIVATISATION UNIT 2nd Floor Lesotho Bank Mortgage Division Bldg. Private Bag A249 Maseru.100 Contact: Makalo Ntšasa Tel: 317902 Fax: 317551 Email: mntsasa@adelfang.co.za For immediate Release Friday, 23rd November, 2001 VISIT OF HONOURABLE MINISTER OF FINANCE TO PRIVATISATION UNIT The Honourable Minister of Finance and Development Planning, Mr. Mohlabi Tsekoa, today visited the offices of the Privatisation Unit for the first time since he was sworn in as a Minister in June this year. The purpose of the visit was to be enlightened on the activities of the Privatisation Unit that is currently in its second phase of the economic restructuring programme with the Utilities Sector Reform Project. The Honourable Minister was welcomed by the Director of Privatisation Unit Mr. Mothusi Mashologu who conveyed the delight of the staff of the Privatisation Unit as this was the first visit by a Minister of Finance ever since the Privatisation Unit was established in 1995. The Current activities of the Privatisation Unit in the Utilities Reform Project were summarised by Mrs. Elena Ntseli, the Senior Economist who highlighted that support is provided in 3 areas namely I) restructuring and privatisation of LEC; ii) Review of ‘Muela Hydropower Plant Management Options and iii) Regulatory Reform of the Electricity Sector. Mr. Makalo Ntsasa, the Senior Information Officer elaborated on the current activities of the public awareness campaign regarding the Lesotho Unit Trust which is currently being conducted by Standard Bank Lesotho Unit Trust Management Company together with Privatisation Unit in northern districts of Maputsoe, Hlotse, Butha-Buthe and Mokhotlong. Mr. Don Pumfrey, the Finance Manager explained that the Lesotho Utilities Reform Project has a total cost of US$39.5 million which will be financed by the World Bank, the African Development Bank, the European Union and the Government of Lesotho. Then he went to indicate expenditures incurred so far as well as the budget allocation for the coming financial year. In his address to the staff of the Privatisation Unit, the Honourable Minister explained that the purpose of his visit was to get to know the staff of the Privatisation Unit and have a first hand benefit of the Privatisation Programme. He complemented the Unit on its successes in implementing the privatisation process despite many difficulties. He also noted that the achievements of the Unit far exceeded its small full-time staff which is assisted by external consultants appointed from time to time. The Honourable Minister mentioned that the three challenges faced by the Privatisation Unit are: • information dissemination from time to time for the public to gain knowledge about the privatisation activities; • a clear business plan which would be helpful to individuals as it is to the Unit in implementing its mandate and; • maintaining a strong team spirit as failure to do so may result in activities being implemented in isolation thereby retarding the mission and vision of the Unit and the Government. In his concluding remarks, the Minister pointed out that for success to be attained, the leadership must be captained by individuals who do not waiver when tough decisions have to be taken. |
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