What does PPSRC mean in COMMISSIONS
The Presidential Parastatal Sector Reform Commission (PPSRC) was established in Tanzania in 2013 to develop strategies to improve the performance of parastatal companies. The Commission’s mission is to reform the public sector so that all parastatal organizations contribute to economic growth and development in the country. It works with government, industry and civil society stakeholders to identify areas for improvement and create an enabling environment for the successful implementation of reforms. The aim is to ensure that parastatals become more accountable and transparent, as well as more effective in delivering services while also being profitable.
PPSRC meaning in Commissions in Miscellaneous
PPSRC mostly used in an acronym Commissions in Category Miscellaneous that means Presidential Parastatal Sector Reform Commission (Tanzania)
Shorthand: PPSRC,
Full Form: Presidential Parastatal Sector Reform Commission (Tanzania)
For more information of "Presidential Parastatal Sector Reform Commission (Tanzania)", see the section below.
Overview
Tanzania’s public sector is composed mainly of state-owned enterprises, or parastatals, which are companies owned by the Government or a specialized agency of the government. These companies cover a wide range of industries including energy, transport, water supply, telecommunications and banking. They provide essential services to citizens across Tanzania and employ over 350 000 people. However, poor performance has led to low returns on investment and limited job creation opportunities for Tanzanians. In 2013, President Jakaya Kikwete set up the PPSRC as part of his commitment to reforming Tanzania’s public sector. The Commission was tasked with developing policies and programmes aimed at improving operational efficiency in parastatals and making them more commercially orientated so they can create jobs more effectively. The PPSRC works closely with other government ministries such as finance, industry, trade and transport which are responsible for different aspects of parastatal oversight.
Objectives
The primary objective of the PPSRC is to bring about transformation in Tanzania’s public sector by improving governance systems within parastatals so they can be more efficient and competitive domestically and internationally. Specifically, it aims to strengthen corporate accountability through improved transparency; enhance efficiency by streamlining operations; reduce cost levels through better use of resources; improve service delivery through increased customer care; help generate value for stakeholders; increase employment opportunities; increase private sector participation in decision-making processes; promote dialogue between the government and private sector organisations; create an enabling environment for successful reforms; mobilise financial resources for capital projects; encourage trade investments both from domestic sources as well as international markets; strengthen capacity building initiatives targeting human resource personnel working at parastatals; build trust among citizens towards their governments related initiatives that focus on promoting good governance practices on a national level.
Essential Questions and Answers on Presidential Parastatal Sector Reform Commission (Tanzania) in "MISCELLANEOUS»COMMISSIONS"
What is the Presidential Parastatal Sector Reform Commission (Tanzania)?
The Presidential Parastatal Sector Reform Commission (PPSRC) of Tanzania was established in 2012 by the President's Office. It aims to restructure, reform and modernize Tanzania’s parastatal and government-owned businesses.
How does PPSRC help improve efficiency in the parastatal sector of Tanzania?
PPSRC helps create a conducive business environment for investment, entrepreneurship and growth opportunities while improving transparency and accountability for effective administration. Major reforms include restructuring state owned enterprises and introducing corporate governance models for significant public sector entities.
What services does the PPSRC provide?
PPSRC provides policy formulation, regulatory enforcement, capacity-building programs, private sector development activities and strategic management advice on parastatal companies or other public sector entities. Additionally, the commission acts as an advisor to the President on all matters relating to national government policies related to public enterprise sectors.
Who runs the PPSRC?
The PPSRC is headed by a Chairman who is appointed directly by the President of the United Republic of Tanzania. The Chairman is supported by Commissioners representing various stakeholders such as public service officers, academics/experts in economics & finance, representatives from civil society organizations, etc.
What are some recommended strategies for reforming parastatals identified by PPSRC?
Some of the strategies recommended by PPSRC include enhancing operational efficiency through streamlining operations through elimination of duplicate roles & responsibilities; promoting good governance practices through increased stakeholder engagement; enhancing financial health through cost rationalization & efficient capital investments; and fostering private sector investment in public enterprises.
Does PPSRC support research activities related to African economic integration?
Yes. In line with its mission to promote inclusive growth and development in Tanzania through its various initiatives such as policy formulation and enforcement, regulatory reform and capacity building programs etc., the commission also supports research activities focused on economic integration in Africa through collaboration with international partners.
What mechanisms are employed in order to implement changes proposed by PPSRC?
An implementation plan is developed which outlines activities required for successful implementation of identified reforms including decisions related to resource requirements (people/time/ budget), timelines etc. Furthermore guidelines are created that incorporate performance indicators allowing performance assessment.
Does PPSRC have any role to play in developing regional markets across East Africa?
Yes. As part of its holistic approach towards achieving economic prosperity, regional market integration has been actively encouraged by the commission through a number of initiatives such as facilitating dialogue between business communities across the region for increasing trade volumes; supporting cross-country investments; creating legal provisions aimed at ensuring compliance; promoting mutual recognition agreements among others.
Are there any restrictions on foreign investors when it comes to employing their staff within Tanzania?
Yes. According to existing regulations foreign investors must appoint local staff members whenever available before outsourcing expatriates employees from outside of Tanzania unless they can provide evidence that no suitable personnel can be found within country.
Final Words:
The PPSRC has made strides towards achieving its goals since it was established in 2013. Reforms have been implemented successfully across several sectors including banking, telecommunications, legal ownership structures etc., allowing for transparency and improved operational effectiveness. Bank profitability has steadily risen due rising demand from customers keen on using new digital banking technology tools offered by various banks operating under new management structures recommended by this commission's reports alongside other international bodies like IMF etc., Nevertheless much more needs to be done if the Commission is going to fulfil its mandate of transforming Tanzania’s public service into a vibrant driver of economic growth.