IN July 2022, Parliament adopted the Report of the Committee on Parastatal Bodies which recommended, among other things, that the office of the President should be removed from the Industrial Development Corporation (IDC) board. This development followed the Auditor General’s consistent Report on the Accounts of Parastatal Bodies and other Statutory, which has been finding glaring irregularities in the operations at the parastatal mother body. The committee observed that the legal framework and the governance practices of the IDC were not in tandem. They noted that the Republican President was the appointing authority of the board of the IDC, but he was also leading the institution as board chairman. In view of this, the committee strongly recommended that the composition...