The Cabinet of Ministers has strengthened control over the effectiveness of companies with state participation

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AK&M 08 December 2022 14:41

Companies with state participation will report quarterly on the achievement of key performance indicators (KPIs). The corresponding order was signed by Prime Minister Mikhail Mishustin.

Information about this will be posted on the interdepartmental portal of the Federal Property Management Agency. A whole system of indicators is used for reporting. Thus, general corporate indicators (industry and financial and economic) characterize the profitability of organizations.

Previously, the composition and target values of key performance indicators were approved by the boards of directors of state-owned companies after coordination with relevant ministries. Now this order has been changed.

Decisions will be made by an interdepartmental working group, taking into account the proposals of the Ministry of Finance, the positions of the Ministry of Economic Development and sectoral authorities.

After that, they will be brought to the executors: to organizations from the special list of the Government – through Government directives; to organizations whose shareholder rights are exercised by federal authorities, through the directives of such bodies; to state corporations, public law companies and other organizations - through the instructions of the Government.

At the same time, functional key performance indicators will now be set for all organizations with state participation without exception. This approach has not been used before.