Minister for Industry Karen Andrews (Image: AAP/Mick Tsikas)

Ministerial oversight. A government board stacked with company directors. Are we witnessing yet another rort in the making?

Amid the buckets of cash being thrown at the economy this year, you might have missed the $1.5 billion manufacturing scheme announced by the prime minister last month that promises to “transform Australian manufacturing” and “rebuild our economy”.

Putting aside the fact that most of the money won’t be available until next financial year when Australia hopes to be out of recession, governance experts say they are "shocked" by what appears to be another grants program with little or no independent oversight.