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2. Outline. IntroductionStatusTimelinesTransition ActivitiesPHCN Next steps. 3. Introduction. Presentation is intended to highlight current status in the implementation of sector reform under the auspices of BPE. Brief stakeholders on key activities and next steps. 4. Current Status of Reform.
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1. Current Status of the Reform Programme By
Bureau of Public Enterprises
Presentation at the Nigeria Power Sector Key Stakeholders Retreat, Kaduna, 12-13 May 2006
2. 2 Outline Introduction
Status
Timelines
Transition Activities
PHCN Next steps
3. 3 Introduction Presentation is intended to highlight current status in the implementation of sector reform under the auspices of BPE.
Brief stakeholders on key activities and next steps
4. 4 Current Status of Reform Asset Transfer
Finalised PHCNs 2004 Balance Sheet
Updated Fixed Registers
Drawn up Transfer Orders (legal backing for transfers)
Aimed at granting legal backing for transfers
Transfers include assets, liabilities, staff, contractual obligations, rights etc
Awaiting gazetting
5. 5 Current Status of Reform - 2 Transmission Company of Nigeria (TCN)
Privatisation strategy Management Contract
Addendum to advert currently running in national and international media
Expires 12th June 2006
Some firms have expressed interest following initial advert
Direct marketing of enterprise on-going
6. 6 Current Status of Reform - 3 Labour Issues
Stakeholders meeting/consultations involving PHCN Management, FMoF, FMP&S, PHCN Staff Unions etc
Emphasis on issues arising from adoption of ROT projects
Pension buy-out canvassed for settlement of pensions, gratuities, and severance packages
AWD recommended optimal staffing levels for each PHCN BUs, new structure. (BPE studying the reports)
7. 7 Current Status of Reform - 4 Special Purpose Entity (SPE)
Commenced incorporation
A liabilities management company with trading component
Stranded liabilities and legacy debts of PHCN
PPAs
Decisions need to be made on:
Funding
Quantum of Debts and liabilities to be assumed
Trading role of the SPE
8. 8 Current Status of Reform - 5 Consultancies
Advance stage in the procurement of corporate restructuring and privatization advisers.
Working in tandem with WB to ensure early commencement of assignments
9. 9 Timelines for conclusion of Reform Transfer date take off slated for 30th June 2006
Legal winding up of PHCN to commence 1st July 2006
Full autonomy for successor companies to be effective 1st July 2006
Interim license of successor companies to take effect from 1st July 2006
SPE to take off 1st July 2006
The privatization of successor companies of PHCN is scheduled as follows:
10. 10 Transition Activities
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