Country needs SMEs

 By SHIRLEY MAULUDU

STATISTICS from the World Bank indicated that 40% of the country’s population do not have at least K2 in their pockets daily. This demands a need to increase local small and medium enterprises (SME) participation, Trade Commerce and Industry Minister Richard Maru said. 

Maru said other issues that triggered the move to involve greater local participation in SMEs was that about two million citizens were not in formal employment.

Speaking during a talkback show on Monday, Maru said more opportunities should be provided for our young people. 

“In a country that is extremely blessed, how is it that half of our population cannot see K2 a day?

“It’s a very serious situation.

“We are just about to finalise the new SME policy and master plan for Papua New Guinea. This sector (SME) can provide employment for our young people … in the future.

“Despite all our mines and petroleum sectors, we still got 66% of our people without employment, leaving our school systems.”

Comparing Indonesia to Papua New Guinea, Maru said, given PNG’s small population, our people would have been well off by now.

“Indonesia has 261 million people. The only way they were able to hold the country together is because they have invested in growing the SME sector. They have fifty million small companies and that’s the only reason why they have employment opportunities and have gained employment for all the young people. 

“We only have seven million (population). They have 261 million. Their government invested in growing the SME sector to create opportunities for its people.

“No responsible government will allow for this to go on. We’ve looked at the rest of the world and found that all of them have invested in growing the SME sector.”