2.1 Annual Report presentation The Director-General highlighted the key matters that would be covered in the presentation and informed the Committee that the mandate of the Department emanated from the economic challenges faced by the country. In order for state-owned companies (SOCs) to effectively contribute to the industrial policy there was a need for rigorous shareholder oversight, a coherent policy and regulatory environment, and well co-ordinated government programmes to support targeted SOC initiatives. He identified these as the elements of the Department's strategic thrust. He further reported how the different programmes had performed against predetermined objectives.