The judicial commission into the Public Investment Corporation (PIC) has made far-reaching findings on the governance of the state-owned asset manager, recommending measures to insulate it against political influence, in particular that it should not be chaired by the deputy minister of finance.

It is also recommends that trade unions and depositors — such as the Government Employees Pension Fund (GEPF) — do not sit on the board and that board members are not selected through a public process in parliament but on the basis of skills and experience...

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