Section 7: Functions of the Commission.

The Commission shall -(a) analyse the approved annual budget of a public enterprise and advise the appropriate authority as to its adequacy or suitability in the light of the objects and functions of the public enterprise;
(b) monitor the implementation of all the measures enumerated in approved annual budgets of public enterprises;
(c) monitor and identify factors inhibiting the realisation of set revenue targets of any public enterprise;
(d) promote efficiency, monetary stability and a sound financial system in the management of public enterprises;
(e) assist appropriate authorities in the formulation and implementation of policy so as to ensure sound and efficient management of public enterprises;
(f) arrange and conduct investigation or inspection into the affairs of a public enterprise where the interest of the public so demand;
(g) assess the report on any project being carried out by a public enterprise and confirm that funds released for such projects are judiciously utilised;
(h) give a situation report of all its activities on quarterly basis to the President;
(i) ensure that a person who defaults in any matter referred to in this section or any other matter related to it is brought before the Tribunal established under this Act;
(j) receive the annual reports and accounts of all public enterprises and make recommendations on them to the President;
(k) advise the President on the appointment of directors of public enterprises; and
(l) carry out such other activities connected with its other functions as may be directed, from time to time, by the President.