ABG success with its people: Tarutia

THE economic success of Bougainville is in the hands of its people to use the land, sea and mining resources well, applying what they learnt from the crisis, according to the National Superannuation Fund (Nasfund).
Chief executive officer Ian Tarutia said the people of the Autonomous Region of Bougainville (Arob) had demonstrated initiative and resilience to rebuild their lives after the conflict.
Tarutia, also president of the PNG Chamber of Commerce and Industry, said there was a bright future for Arob.
He thanked the Government for its commitment to Bougainville.
“I believe the Marape-led Government is committed to the Bougainville Peace Agreement, and the restoration of Arob as an economically self-sustaining province.
“Bougainville was renowned for its vast cocoa and coconut plantations in the early 70s to 90s and outside of the Panguna copper mine was one of PNG’s largest exporters of cocoa and copra.
“Nasfund has 30 entities, including the Autonomous Region of Bougainville, contributing for superannuation which totals around K3 million annually.
“This is derived mainly from small to medium enterprises.
“This is an example of savings from a small group only.
“The potential for business activities to generate employment, provide income for people and grow a larger domestic savings pool to drive further investment opportunities, aside from providing income protection for members in retirement, in Autonomous Region of Bougainville is huge.
“Like all provinces in Papua New Guinea, Autonomous Region of Bougainville has its own plans which requires funding.
“At this time, I don’t believe it has enough income-generating streams (by way of tax, grants, government or donor funding) that is sufficient to drive its socio-economic development agenda.”