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Government to announce guidelines on public enterprises

The government aims to complete formulating its guidelines on the method the city’s government-owned enterprises should announce their financial information and start implementing the guidelines next month.

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UPDATED: 22 Dec 2023, 5:47 am

Sónia Chan Hoi Fan, who heads the newly-established Macau Special Administrative Region Public Assets Supervision and Planning Office, said on Monday that the government aims to complete formulating its guidelines on the method the city’s government-owned enterprises should announce their financial information and start implementing the guidelines next month.

Chan, the policy secretary for administration and justice in the previous government, made the remarks while speaking to reporters after attending a closed-door meeting of the legislature’s Follow-up Committee for Public Finance Affairs. The members of the committee asked Chan and several other officials of her office to brief them on the new entity’s function and duties.

The new office was established as a government project team on December 20. Chief Executive Ho Iat Seng appointed Chan as the director of the office. Chan’s appointment took effect on December 20, initially with a two-year term.

The office is tasked with studying the current modus operandi of the city’s public enterprises and public funds and making suggestions to the chief executive on possible improvements to their operations.

The office has an initial duration of three years which can be extended. Supervision by the office does not include the Pension Fund (FP) and the Social Security Fund (FSS). The office is directly overseen by the chief executive and is headed by a director with the assistance of two deputy directors.

According to Chan, there are currently 23 publicly-funded companies in Macau, which are covered by her office’s supervision. Chan said that 21 public autonomous funds – excluding the Pension Fund and the Social Security Fund – are also covered by her office’s supervision.

According to the Macau Post Daily, Chan said that her office and the Financial Services Bureau (DSF) together have almost completed formulating the guidelines, adding she expects the guidelines to be published next month by chief executive order in the Official Gazette (BO).

UPDATED: 22 Dec 2023, 5:47 am

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