Coca-Cola boss hopes Treasury will help recovery

COCA-Cola Amatil is “hopeful” that Treasury will introduce measures in the supplementary budget to address the shortage of foreign exchange, general manager Sumindra Bhattacharya says.
Bhattacharya said the company was able to manage the foreign exchange shortage because of its strong relationship with international suppliers. He said improvements on the availability of foreign exchange would drive the company’s growth that it had been maintaining in past years.
“Coca-Cola Amatil PNG has enjoyed a robust business growth over the last three years. We are extremely thankful to our esteemed consumers for this,” Bhattacharya said.
“However, we do have a medium-term need for greater access to foreign currency.
“We work with global brands that require internationally accredited standards and quality assurance.
“It means we often source raw materials from other parts of the world.
“So far, we have managed by leveraging long-standing relationships with global suppliers, and through an inter-company facility provided by our group head office in Sydney.
“We are hopeful that Treasury will implement additional measures to improve the availability of foreign currency, as this will help support further business growth.”
Bhattacharya highlighted the company’s investment of more than K80 million in manufacturing facilities since the 1990s.
“Coca-Cola Amatil PNG has remained committed to investment and capability building since 1991 in PNG thus, investing more than K80 million in our manufacturing facilities in Lae and Port Moresby with line and capacity upgrades done on an interim basis.”