2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 25
million was provided for 25 SOEs in the 2017 / 18 fiscal year, representing an increase of $ 79 million from the previous fiscal year. In light of the critical priority being attached to fiscal consolidation, such a drain on the public finances must clearly be rationalized.
To that end, the Government has directed each SOE to begin looking at a move toward a cost-recovery operating model, which might include a mix of revenue enhancement initiatives, as well as measures to reduce expenditures in-line with industry benchmarks. The SOEs are now formulating articulated strategies that we expect will take them to this optimized point within 3 to 5 years.
As a supplement to this exercise and to provide guidance, the Government is currently pursuing the engagement of a consulting firm to provide an analysis of
million was provided for 25 SOEs in the 2017 / 18 fiscal year, representing an increase of $ 79 million from the previous fiscal year. In light of the critical priority being attached to fiscal consolidation, such a drain on the public finances must clearly be rationalized.
To that end, the Government has directed each SOE to begin looking at a move toward a cost-recovery operating model, which might include a mix of revenue enhancement initiatives, as well as measures to reduce expenditures in-line with industry benchmarks. The SOEs are now formulating articulated strategies that we expect will take them to this optimized point within 3 to 5 years.
As a supplement to this exercise and to provide guidance, the Government is currently pursuing the engagement of a consulting firm to provide an analysis of