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JPKE SIGNS CONTRACT FOR
CONSULTANCY WORK, PRIVATISATION MASTER PLAN
The Department of Economic
Planning and development (JPKE) has signed a contract with
PricewaterhouseCoopers (PwC) to undertake consultancy work in
preparing a Privatisation Master Plan for Brunei Darussalam.
The
ceremony was held on 24 October 2009 (Saturday) at the JPKE building
in Jalan Ong Sum Ping. Present as the event’s guest of honour and to
witness the signing was Hj.Murni Hj Mohamed, Permanent Secretary at
the prime Minister’s Office.
Signing on behalf of the Brunei government was Shahrom Hj.Suhaimi,
the Acting Director- General of JPKE, while PricewaterhouseCoopers
was represented by its partner, Mark Rathbone. JPKE said that
privatization has been recognized as a development strategy, in
particular to the private sector’s growth, which is perceived to be
the engine of growth for the country’s future development.
It
also serves to realize several economic and social policy
objectives, which – among others – include improving efficiency and
productivity of public services as well as state-owned enterprises,
to stimulate the development of entrepreneurs and the private
sector, to encourage investments and to streamline the public sector
workforce.
Since
the early 90s, the government has taken several initiatives as part
of the country’s privatization drive.
The
establishment of the Special Committee on Privatisation in 1993,
whose role is to guide and supervise the privatization programme,
the corporatisation of Telecommunications Department – JTB to
Telekom Brunei Berhad (TelBru) in 2006. This is seen as a flagship
of the privatization programme and emphasis on privatization in the
National Development Plan 2007-2012 (RKN) and the Policy Directions
in the Outlines of Strategy and Policy for Development (OSPD) for
Brunei Darussalam, just to name a few.
The
aim of the Privatisation Master Plan is to provide a blueprint and
details on implementing a privatization policy in the country. It
will outline a clear vision, policies and strategies for building
the foundation as well as charting the strategic direction of
privatisation programme in the next 20 years for Brunei.
It
will also provide recommendations of regulatory framework, financial
infrastructure, institutional set-up, human resources issues and
legal framework required to execute the planning, coordination,
implementation and monitoring of privatization programmes in the
Sultanate.
The
preparation of the Master Plan takes into account both international
best practices, as well as the country’s local, cultural and
economic conditions. PwC’s international network and specialist
experience in privatization will bring in locally based experience
and international expertise together.
PwC
has worked with governments, shaping their policies, developing
frameworks and helping them to implement privatization, industry by
industry.
PwC
has been providing leading-edge advice on privatisation to
governments and the private sector for over 15 years, from steel to
heavy manufacturing utilities, public transport, as well as health
and education services.
For
the Privatisation Master Plan, PwC has teamed up with leading
international legal advisors Lovells Lee & Lee and Brunei-based firm
Cheok Sankaran Halim to ensure that their advice incorporates
international best practices with relevant, valuable local
expertise. The Master Plan is scheduled to be completed in 12
months’ time. |
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