Govt sets up agency to manage State property

The government has established a new agency to manage its commercial properties, saying the move will improve the use of State assets, increase revenue and strengthen accountability.

Works and Transport Minister Veikko Nekundi announced the establishment of the Public Assets Management Agency of Namibia (PAMA) yesterday at the inauguration of the interim board of PAMA and the temporary board of the Namibia Airports Company (NAC). Nekundi said the creation of PAMA marks a change in how the government manages its non-service delivery properties.

“For too long, the management of certain public assets has largely been approached from an administrative and custodial perspective,” he said. He said the government owns many properties that could contribute more to the economy if properly managed. According to Nekundi, PAMA will operate as a commercial public entity, with government as its sole shareholder. Its responsibilities will include managing government-owned commercial properties, improving their utilisation, increasing rental and other income, reducing unnecessary costs and ensuring proper maintenance.