The Public Investments Committee is constituted pursuant to the provisions of S.O. No 206 and is responsible for the examination of the working of the public investments.
It consists of a chairperson and not more than sixteen other Members.
The Public Investments Committee elects a chairperson and vice-chairperson from amongst its members.
The Public Investments Committee constituted immediately following the general elections shall serve for a period of three calendar years and that constituted thereafter shall serve for the remainder of the parliamentary term.
The functions of the Committee shall be to-
- examine the reports and accounts of the public investments;
- examine the reports, if any, of the Auditor General on the public investments; and
- examine, in the context of the autonomy and efficiency of the public investments, whether the affairs of the public investments, are being managed in accordance with sound financial or business principles and prudent commercial practices.
The Committee is excluded from dealing with the following: –
- matters of major Government policy as distinct from business or commercial functions of the public investments;
- matters of day-to-day administration; and,
- matters for the consideration of which machinery is established by any special statute under which a particular public investment is established.