§ Lord Brougham and Vauxasked Her Majesty's Government:
What progress has been made with plans for the Overseas Development Natural Resources Institute to become an executive agency.
§ Lord Brabazon of TaraAs foreshadowed by my right honourable friend the Minister for Overseas Development on 19th December 1989, the institute has been established as an executive agency under the Government's Next Steps initiative with effect from 1st April. The institute's aims, objectives and operating principles as an agency are set out in a framework document, copies of which have been deposited in the Libraries of both Houses. In accordance with Next Steps principles the institute will be free to propose further adaptation if changing circumstances make this appropriate.
The institute's performance will be judged principally in terms of its ability to satisfy customers while covering its full economic costs. My right honourable friend the Minister for Overseas Development has set NRI the target of improving its efficiency, as measured by unit costs, by 5-5 per cent. in the three years 1990–91 to 1992–93. Over the same period the institute plans to increase the volume of business it undertakes.
The institute's name will be the Natural Resources Institute or NRI.