PEMC Satisfied With PUC’s Financial and Operational Performance in 2024
VICTORIA, Seychelles — The Public Enterprise Monitoring Commission (PEMC), the body tasked with promoting good governance, transparency and accountability in state-owned enterprises, is satisfied with the Public Utilities Corporation’s (PUC) financial and operational performance in 2024 compared to 2023. The comment was made by the acting chief executive of PEMC, Kalum Bandara, during a press conference yesterday afternoon at L’Escale Resort Marina and Spa, Providence.
The press conference followed the corporation’s first-ever annual general meeting for its main shareholder, the government, represented by the Ministry of Finance, National Planning and Trade. ‘As PEMC, our primary objective is to maximise shareholder value while ensuring that each public enterprise delivers optimal returns to society, both financially and socially,’ Mr Bandara stated. ‘In 2024, PUC has demonstrated strong financial performance and notable growth in its asset base. Operationally, we’ve seen significant improvements in their delivery of electricity, water and sewage services to the public, and overall, we are pleased in what has been achieved.’
Mr Bandara also emphasised that PEMC is closely monitoring the corporation’s future plans and strategic direction. The annual general meeting marked an important step in strengthening the accountability framework for state-owned enterprises in Seychelles, and is expected to become an annual event for the public sector.
