K1 billion for infrastructure


PNG Ports Corporation has invested K1 billion in infrastructure around the country, Minister for Public Enterprises and State Investment William Duma says.
Duma, who announced the appointment of PNG Ports Corporation board of directors yesterday, said the Government recognised this state-owned entity as a significant pillar of the country’s economic development.
“The Government has decided to retain most of the board members to ensure continuity because of their influence and input in the development of this country as they have done for the last three years.
“We’ve put in the hard work, we’ve borrowed heavily, got the money, engaged consultants, we’re putting up the structures, we need to work together to ensure that all our investments pay off,” Duma said.
He said there were only two profitable ports, Port Moresby and Lae, while the others were being run under community service obligations.
Duma told the board of directors that the Government expects PNG Ports Corporation to be run as a commercial entity and it was expected to perform.
“Given that we remain as a state-owned-entity then we have an obligation to our people and our stakeholders.
“You are expected to do your job professionally and productively.
“Over the last three years, you’ve performed and you have delivered good results to the board as well as the management team led by managing director Stanley Alphonse.
“I do not see a big difference in the performance of the company and I remain confident with your skills, experience and commitment and see a good future ahead of us.
“I stand ready to work with you as a team and to deliver the result that our shareholders expect.
“We all need each other as long as we are honestly, competently, effectively and efficiently doing what is required of us.
“I can’t see PNG Ports or our country going wrong,” Dum said.
“We have the assets, you have the skills, you have the experience. The PNG Government has confidence and trust in you, when we have that combination, we can never go wrong.”

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