Stakeholder Engagement
Stakeholder engagement is essentially part of the monitoring function of the Parastatal Monitoring Department to ensure effective capture of information to report on governance, accountability transparency and other aspects of the operations of the parastatal entities. It serves several key purposes:
1. Data Gathering and Insights from stakeholders, such as experts, and related organizations, providing valuable information and perspectives that help the department better understand the context of the issues of monitoring.
2. Building Trust and Transparency: Engaging stakeholders fosters trust and demonstrates that the agency is open to feedback and collaboration, ensuring that monitoring activities align with public interests.
3. Improved Decision-Making: Stakeholders can offer diverse viewpoints, ensuring that decisions and recommendations are well-informed and balanced, leading to better outcomes.
5. Enhanced Accountability: Engagement ensures that parastatal entities remain accountable to those they serve and meet their obligations effectively.
6. Capacity Building: Collaboration with stakeholders can help educate and empower them, fostering a sense of shared responsibility for monitoring outcomes.
There are many effective ways to engage stakeholders, depending on the context and goals of the engagement. During the year 2024/25, the PMD chose questionnaires, on-site visits and one-on-one Meetings.
The Parastatal Monitoring Department conducted onsite visits to the following organizations:
- Citizenship by Investment Unit
- Events Company of Saint Lucia
- Director of Finance who served as Chairman of International Financial and World Investment Centre Ltd. – Pinnacle Saint Lucia
- Brief visit to Saint Jude Hospital
- National Conservation Authority
- Saint Lucia Development Bank
- Director of Audit
