Established on 11 June 2012 by cabinet conclusion 332(a)-350 of 2012, the PMD is responsible for ensuring compliance across all levels of the parastatal sector. Parastatals, also referred to as statutory bodies, are organisations created by law to carry out specific functions or responsibilities on behalf of the government. It can be set up for profit or as a non-profit entity to provide goods and services to the public, serve a public purpose, or perform functions related to the government. Examples include constituency councils, boards, commissions, agencies, and companies where the government owns shares.
Over 90 parastatals have been established in Saint Lucia, including institutions such as the National Insurance Corporation, the Saint Lucia Tourism Authority, the Citizenship by Investment Unit, the Water and Sewerage Company Inc., the Saint Lucia Air and Sea Ports Authority and the National Conservation Authority, among others.
The PMD’s mandate is to ensure that these entities operate efficiently while adhering to legal and financial regulations. Key responsibilities include:
- Advising the prime minister on the financial and operational performance of parastatals.
- Providing strategic guidance on governance, accountability, and transparency.
- Monitoring parastatals for compliance with laws and directives.
- Conducting governance audits and reporting on the internal controls of parastatals.
- Evaluating parastatals to assess the sustainability of their existing structures.
The department is responsible for ensuring that taxpayer dollars are used legitimately and prudently, in accordance with approved expenditures and the organisation’s mandate. Parastatals are expected to comply with governing legislation, maintain accurate and up-to-date financial records and submit annual reports promptly. Failure to meet these requirements may result in penalties or actions being taken against non-compliant entities by the department of finance.
Permanent Secretary of the PMD, Josette Maxwell-Dalsou, emphasised the importance of compliance and accountability, stating:
“Since assuming leadership of the department a few months ago, I have been unwavering in my commitment to ensuring accountability and improving performance in the sector. We have already begun actively engaging with several entities and fruitful discussions have been held on a variety of topics. It has been particularly encouraging to witness their openness to guidance from our department. Our primary objective is to ensure the optimal and efficient utilisation of state resources, maintaining transparency and accountability for every taxpayer dollar spent. We are dedicated to overseeing the delivery of high-quality services that result in customer satisfaction.”
In addition to continuing its visits to the island’s parastatals, the PMD will be conducting an educational campaign to engage and inform the public about its role and objectives. This initiative underscores the department’s commitment to transparency and fostering a culture of accountability.
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