Residents in Mutare have called for the appointment of competent members on boards for public entities to curb the vice of wanton siphoning of funds towards extravagant lifestyles.

The Parliamentary Portfolio Committee on Finance and Economic Development touched down in Mutare for consultations on the Public Entities Corporate Governance Bill where members of the public raised concern on the need to have boards with competent personalities while declaration of interest is critical to ensure efficiency.

The country has about 100 state run firms and many of them have been hamstrung by not having chief executives in a substantive capacity, notes acting chairperson Parliamentary Portfolio Committee on Finance and Economic Development, Honourable Eddie Cross.

The Public Entities Corporate Governance Bill seeks to ensure performance targets for board members, limiting the number of terms, ensuring individuals do not seat on several boards as well as outline strategic plans and performance targets.