May 14, 2015 By Jariatu B. Bangura
Parliament yesterday approved Osman A. Timbo Esq. to serve as board member at the National Commission for Privatization (NCP).
Responding to questions while being interviewed by lawmakers, Timbo said the NCP performs the role of divesting or selling government assets and to ensure enterprises that do not meet standard performance level perform efficiently.
He said that the reason for privatization is because government is not a businessman and that sometimes it is best to divest or to even go into public-private partnership, adding that, “My role in the board is to give legal advice on how to go about divesting these properties. Secondly, I would be there to advice on reforms that would give value for money when the enterprise is up for sales.”
Timbo is currently a private legal practitioner and legal consultant and adviser at the Public-Private Partnership Unit in the Office of the President.
He said 24 public enterprises that are under the commission cannot be sold now because, “If we sell them in their present state the commission will sell them at a loss. Therefore we need to reform them and get them to a certain level and then sell them later.”
The other presidential nominees include Fredrick A. Jones as board member, National Commission for Privatization; Charles Mary-Weather as board member, Petroleum Regulatory Agency; James Ahmed Mahoi as board member, National Insurance Company; and Ayodele Wak-Williams as board member, Sierra Leone Ports Authority.
In his contribution, Hon. Komba E. Koedoyoma said the nominees should consider their appointment as a call to duty as much will be expected from them in the respective institutions they have been nominated to serve.
He urged them to maximize high quality of performance at the institutions to leave a legacy that would be remembered, and that they should not consider failure as an option in carrying out their duty.
Hon. Alhassan Kamara said the Petroleum Regulatory Agency should properly look into issues such as some petroleum products imported into the country are mixed with ethanol, which damages vehicles.