Sunday, 22 July 2007 9:02 AM

Solomon Airlines Faces Possible Restructuring

The Finance and Treasury Minister, Gordon Darcy Lilo, has intervened into the affairs of the Solomon Airlines amidst its growing financial difficulties.

It is understood that Finance Minister Gordon Darcy Lilo has taken the initiative to intervene in anticipation of the much awaited State Owned Enterprises Bill planned to be tabled in the Parliament sitting next month.

"I have reduced the Board from eight to about four. It's the first S-O-E that we will test the confidence of the public, the private sector and the finance in particular to the way we apply certain policy decisions, one removal of the political representation in the Board and secondly, that we reduce the governance. To me that's a sensible and good governance decision," said Lilo.

Mr Lilo stated that the State Owned Enterprises Bill is aimed at making sure public owned enterprises are properly managed and made more accountable and transparent.

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