Government is pushing for the implementation of procurement reforms in the public sector as a way of promoting transparency and accountability for the good of the economy.
Efforts by government to push for procurement reforms follow allegations of corruption levelled against the State Procurement Board (SPB) and other government departments in the awarding of tenders.
The second annual public sector audit conference and financial management awards attracted key figures within state institutions who were challenged to come up with lasting solutions regarding public financial management.
Deputy chief secretary to the Office of the President and Cabinet, Dr Ray Ndhlukula said transforming the SPB will build confidence and trust in the public procurement system.
“Corporate governance bill will become law soon hence forcing state enterprises to publish their financial statements annually and those found on the wrong side of the law will be dealt with,” said Dr Ndhlukula.
Zimbabwe has 97 state owned firms which are contributing 11 percent to the gross domestic product a huge decline from the 40 percent they used to contribute.
The figures show that state enterprises have become a liability to the fiscus.