The Finance Ministry will change the performance evaluation system of state-owned companies

the Ministry of Finance plans to change the performance evaluation system of state-owned companies. This year, the Agency was obliged to oversee corporate governance in state-owned companies.

For state-owned companies intend to apply the same performance evaluation method as for commercial companies, as state-owned companies also needs to make a profit and pay dividends, Interfax reports.

Deputy Finance Minister Alexei Moiseyev said that the government should not strongly interfere in the activities of state-owned companies, should be entrusted to boards of Directors. Moses stressed that the government will not withdraw from possession corporations, at least 50% of shares will belong to the state.

But the shareholder structure will change, and key performance indicators will include return on investment, payment of dividends and shared profits for shareholders. Deputy Finance Minister noted that the main indicators that demonstrate how effective the activities of the company in the interests of investors and shareholders.

the Theme of the launch of the corporate governance reforms in state-owned companies has been discussed for a long time. The Ministry of Finance in the spring suggested that the implementation of “legislative guillotine” in state-owned companies — to get rid of already fulfilled and no longer relevant directives for state-owned companies.

the Finance Ministry also believes that the list of issues on which requires the issuance of directives of the government or of the Federal property management Agency, representatives of the interests of the Russian Federation in the management bodies of JSC with state participation should be reduced. This will reduce company costs and increase the level of responsibility of Board members from the state.