Photo: James Marape
Prime Minister James Marape has directed the Chairman and Managing Directors of all State-Owned Enterprises to run their sectors as private businesses. PM Marape made this directive when speaking at the K80m dividend cheque presentation by Kumul Consolidated Holdings to the State last Thursday.
He said this will signify greater profit and performance outcomes. Marape made this remark when officiating at Kumul Consolidated Holdings (KCH) Limited’s first ever dividend of K80 million cheque presentation to the State on Thursday. While acknowledging the KCH and its subsidiary companies for returning the historic K80 million dividends in a very hard year, the Prime Minister indicated that there are more rooms for profit and performance improvement.
PM said starting next year, his government will fully empower KCH to ensure not just K80 million is returned but greater returns in the future.
“Because really you have no excuses. You run the biggest monopoly in this place. Time for you to run in public service mindset is over,” PM said.
“Move it or you will be left behind. You have started a good work and I repeat, move it or you will be left behand. “Do not think public service but think and run like a private sector. We are working to ensure that those of you are employed in those sectors.
“You get ranked and renumerated better but the earnings are passed on to the country whether in dividend or a better service to our people. “Let us get to work. Do not expect miracles to happen overnight. No angel will come down to do our jobs.”
He said good signs have emerged in Telikom, Water PNG, Air Niugini, and I’m also seeing good signs in PNG Power but much work needs to be done there.
