FAQs
Frequently Asked Questions
Find answers to common questions about the role, responsibilities, and processes of the Parastatal Monitoring Department.
What are parastatal organizations?
Parastatal organizations are entities that are either wholly or partially owned, funded, or operated by the Government of Saint Lucia. These include statutory corporations, boards, and companies established by Acts of Parliament or under the Companies Act with public sector involvement.
Why was the PMD established?
The PMD was established to enhance accountability, transparency, and efficiency across the public sector. It ensures that parastatal bodies align with national policy goals, operate sustainably, and maintain good governance standards.
What are the main responsibilities of the PMD?
- Monitoring financial and operational performance of parastatals
- Evaluating governance practices and board effectiveness
- Assessing compliance with statutory mandates and government directives
- Recommending policy reforms and performance improvements
- Facilitating capacity-building and best practices in parastatal management
How does PMD conduct its monitoring activities?
The PMD uses a combination of annual reviews, structured assessments, and engagement with boards and management teams to evaluate parastatal operations.
Does the PMD have enforcement powers?
The PMD does not have direct enforcement authority but collaborates closely with oversight bodies such as the Ministry of Finance, to recommend action and enforce compliance where necessary.
How does PMD promote transparency and accountability?
Through annual reviews, stakeholder consultations, performance audits, and reporting to Cabinet and Parliament, the PMD ensures that public resources are being managed responsibly.