A Tripartite Annual Performance Compact was signed on 3rd June 2021 between the Hon’ble Minister, Ministry of Information and Communications (Portfolio Ministry),the Director General, Department of Macroeconomic Affairs / Ministry of Finance, and the Chief Executive Officer(s) of the three following State Enterprises:
1. Bhutan Broadcasting Services (BBS);
2. Bhutan Postal Corporations ; and
3. Royal Bhutan Helicopter Service Limited (RBHSL).
The Annual Performance Compact (APC) was initiated to enable and encourage the SOEs to resort to innovative ways of providing services and come up with innovative products. The APC is also intended to guide the SOEs work with focused targets.Beginning 2021, in line with the Corporate Governance Guidelines for State Enterprise 2019, relevant SOEs are required to sign a tripartite Annual Performance Compact with Portfolio Ministry and the Ministry of Finance. The Portfolio Ministry, as per the Corporate Governance Guidelines for State Enterprise 2019 mandates the Portfolio Ministry to :
I.Ensure that the State Enterprise are in line with the purpose of its establishment and recommend any changes thereto,
II.Ensure that the Government polices are adhered to at all times by the State Enterprises;
III.Provide technical expertise and assistance whenever necessary;
IV.Consult the Ministry of Finance on any policy shift or policy interventions in State Enterprise, and
V.Be prohibited from being involved in the governance or day-to-day management decisions of the State Enterprise.
The Tripartite Annual Performance Agreement Signing was also graced by the Hon’ble Dasho Secretary, MoIC.
Place: MoIC Conference Hall
Contact Person:Mr. Thinley Dorji