Smare: Companies paying 10 times more on security

By DALE LUMA
PARADISE Company Ltd group chairman Anthony Smare says most Papua New Guinean companies spend 10 times more on security than neighbouring countries.
“Due to continuing law and order challenges in our main centres, security remains a regrettable but necessary high cost of doing business in PNG,” Smare told The National.
“Apart from ensuring security of operational sites and offices, many large companies spend money on security services also to ensure that their staff come to work and go home safely particularly if their work or travel is in the evening or early morning.
“Like other large employers, our companies in the Paradise Group such as Paradise Foods, Laga Industries and Queen Emma Chocolates, spend a significant amount each year on security costs to ensure safety of premises and personnel in our three main production facilities in Lae and Port Moresby and our various sales offices in the provincial capitals.
“Sadly, in my view, most PNG companies probably spend 10 times more on security than what they would normally spend on security if they were operating in any of our neighbouring countries.”
The sentiments were also shared by Port Moresby Chamber of Commerce and Industry president Rio Fiocco who previously told The National that security constituted a significant cost of doing business in the country.
Fiocco said law and order remained a key issue which was an added cost for businesses.