Public Companies Restructuring Committee requests business financial information

The Government intends to recover the investment made in State public companies; to that end it has created a committee charged with structuring those companies.

The meeting of the committee with representatives from public companies took place on Wednesday 19th December. The Secretary of State Charged with the Treasury, Milagrosa Obono Angue, said that the Government had invested in several of these companies with figures in the millions, and now was the time to establish plans for the recovery of the investment.

In order to achieve the objective, the Executive sanctioned Decree number 187/2018, of 29th November, through which the committee was established. The Government created the State Public Companies Restructuring Committee because it considers that it has invested a great deal of money in these companies, and we want to structure them so that they can provide economic profitability for the State. It is not that this is not happening. Some of them are working well, but we want to implement an overall restructuring”.

During the meeting the committee asked the State public companies to report on their financial situations, including both costs and income, to the month of September 2018.

The committee is made up of the Secretary of State, Charged with taxes, Genaro Ela Kung, and the Secretary of State Charged with the Treasury, Milagrosa Obono Angue, among others.

Source: Equatorial Guinea Press and Information Office

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