How to save public companies, most of which are failing and find themselves in a situation of extreme vulnerability. Burdened with debt and weakened by years of mismanagement, these companies are in agony.
Deterioration of the financial situation, plan for restructuring or sectoral reforms affecting a few companies and public establishments, mission that has become difficult for the government, given the extremely difficult socio-economic context. There are so many factors that lead a public institution or a public enterprise to cease its activities. The mode of governance of the public sector is considered to be the main reason for the difficulties of the companies that make it up. Today, it is imperative to establish an in-depth diagnosis of the situation of these entities and take action, by implementing rescue and recovery plans by dealing with cases on a case-by-case basis.
Public enterprises in financial distress are legion in Tunisia. Some are bankrupt. Others regarding to be. The latest statistics released by the Ministry of Finance in its latest report (January 2023) show that the losses of public companies increased during a year by 1,280%. By establishing a diagnosis of the economic and financial situation of 81 public companies out of a total of 111 having experienced negative consolidated net results estimated at -2,455.26 million dinars in 2020 once morest -177.93 million dinars in 2019, the report thus mentions an aggravation of 2,277.33 million dinars corresponding to 1,280%.
According to the same source, a drop in the liquidity of public companies in 2020 by 325.71 million dinars was recorded, a drop due to decline in their business. This precarious financial situation did not allow the companies in question to fulfill their obligations towards the State in terms of payment of tax and customs debts and loans granted to them by the State. The report lists 53 of the 81 public companies that recorded a negative net result with a total of 2,643.27 million dinars. Among these companies, the Tunisian Petroleum Activities Company, the Cereals Office, the Gafsa Phosphate Company, the Civil Aviation and Airports Office, Tunisair and Transtu.
