The Inter-Ministerial Committee chaired by Deputy President Ramaphosa remains responsible for overseeing the stabilisation and reform of state-owned entities. The IMC has proposed the establishment of a Presidential SOC Council. The proposal arises from the report of the Presidential SOE Review Council released in 2013, which called for the establishment of an SOE Council of Ministers.
The Council is aimed at ensuring improved oversight and coordination of state owned companies in the similar manner in which the Presidential Infrastructure Coordinating Commission coordinates infrastructure development across the three spheres of government or the IMC on Investment Promotion.
This IMC proposal is still to be discussed further in Cabinet. At this stage no finality has been reached and there are no terms of reference and no governance structure for the Council that has been finalised. Government welcomes any inputs from stakeholders on this important task of improving SOEs so that they assist in driving economic transformation and improve the lives of our people.
It should be noted that the work of coordinating structures is only to coordinate and supervise and ensure that all work together and not in isolation. It is not to directly run projects or takeover responsibilities of line function departments. The Department of Public Enterprises thus continues to perform its task as the shareholder to the state entities that report to it.