Scheme at a Glance

Objective of the Scheme

• A. To improve policymakers’ understanding about SOEs’ debt and their contingent liabilities to ensure transparency, better managed and closely supervised SOEs; 
• B.  To strengthen the oversight and performance monitoring of SOEs; and which will ultimately benefit to reduce the subsidy amounts provided by the Government of Bangladesh to SOEs as per the          approved PFM Action Plan 2018-2023.

Output of the Scheme

• The approved DCL and IPE templates have been converted to Excel format for interim data collection and processing.
• A training for the Monitoring Cell officials and consultants was held on iBAS++ and BACS activities. The participants have been oriented with the BACS to accommodate SOE reporting and               details of iBAS++ system in the training.
• 99 SOEs and ABs published and uploaded their Audited Financial Statements of FY 2020-21 in their respective website as well as FD website.
• Letters have been issued to 166 SOEs/ABs to publish and upload their Audited Financial Statements of FY 2021-22 by February, 2023 in their respective website as well as FD website.
• 81 SOEs and ABs have published and uploaded their Audited Financial Statements of FY 2021-22 in their respective website and FD website.
• Hardware Requirement has been identified and finalized. Draft (FRS) has been prepared.
• Training module on DCL has been prepared.
• To prepare the statement of debt and contingent liabilities and fiscal risk assessment, on pilot basis, 10 SOEs and ABs were selected.
• Officials of the selected 10 SOEs and ABs were given hands on training regarding the filling-up of the forms of The Procedure to Regulate the Debt and Contingent Liabilities of SOES and ABs. 
• Data on debt and contingent liabilities and other financial indicators of the selected 10 SOEs and ABs were collected through the forms of The Procedure to Regulate the Debt and Contingent   Liabilities of SOES and ABs and entered into database.
• Based on the collected data, the statement of debt and contingent liabilities and fiscal risk assessment of the selected 10 SOEs and ABs for the FY 2020-21 has been prepared.
• Data on debt and other financial indicators of additional 85 SOEs and ABs were collected from their Audited Financial Statements (AFS) uploaded on the website of FD and were being entered into  database.  Based on the collected data and the data of aforesaid 10 SOEs and ABs, the statement of debt and contingent liabilities of SOEs and ABs for FY 2020-21 has been prepared.
• Two officials from MC have participated in the 15^th Meeting of the Asia Network on Corporate Governance of State-owned enterprises in Indonesia held on 8-9 December
• A brainstorming Camp was held to prepare a Roadmap to speed up journey towards results which was supported by BETF at Bhawal Resort, Gajipur, on 16-17 September, 2022. All the officials of  MC, consultants of SOE Governance Scheme and WB representatives attended the workshop.
•  A work-plan of 55 days was prepared in the workshop. A follow-up meeting was held after the targeted of 55 days on the progress of the work-plan. Workflow design and workflow of DCL  module development has been completed. Workflow design and module design of IPE has been completed and IPE module development is in progress. Financial and non-financial data collection  forms of DCL module development have been completed.
•  95 SOEs’ and ABs financial data have been entered in the DCL module for FY 2020-21 and FY 2019-20. Prototype development of the Budget module is in progress.
• Draft Report on SOE Legal Framework of Bangladesh has been prepared and a presented before the officials of MC.
• A letter has been sent to IPF requesting to arrange training programs on SOE performance evaluation, DCL and financial management of SOEs.
• Module development of the training programs is under process.
• Evaluation Research Team (ERT) has been formed comprising officers and consultants of the Monitoring Cell, Finance Division to conduct the IPE of selected SOEs/ABs.  ERT has prepared the  draft IPE Reports of selected 10 SOEs/ABs for submission to IPEC for finalization.
• IPE Report of Bangladesh Power Development Board is finalized by IPEC.

Outcome of the Scheme

• The Procedure to Regulate Debt and Contingent Liabilities of SOEs and ABs including the reporting templates has been approved by senior secretary, Finance Division and GO has been issued.
• Independent Performance Evaluation Guidelines (IPEG) of SOEs/Abs have been approved by senior secretary, Finance Division and GO has been issued. Independent Performance Evaluation  Committee (IPEC) has been formed