Don’t sell state-owned entities

I WAS unhappy to have read your front page story yesterday where Kumul Consolidated Holdings Ltd managing director Isikeli Taureka said the Government will sell its companies for not making money.
Taureka said state-owned enterprises such as Datec, EMTV and FM 100 will be sold because they were all making losses.
That decision is not good and is not done in the interest of Papua New Guineans.
I appeal to the National Executive Council to cancel that decision.
Look at the sale of PNG Banking Corporation to Bank South Pacific.
It was a bad decision by another regime because people are now suffering at the hands of Bank South Pacific with the countless illogical fees that the bank charges.
The bank is charging fees that were never around when PNGBC was in operation.
We, the people of PNG feel as if we are run by foreign firms that are manipulating us and the system and ripping us off.
I am of the view that it is not the state-owned companies that are at fault.
I think the fault lies with the wrong kinds of chief executive officers or directors that the NEC has been appointing to run those entities over the years.
There may be better candidates for the positions out there who can turn those companies around and make profit.
Find them employ them.
Politicians should keep their hands off those companies and let them operate on their own.
Please, Taureka and the NEC, open your eyes and see.
Your people do not want to be on the losing end with foreign firms taking over what is ours.
You should think about your people, not about money. You cannot just sell anything just because it is not making money.
Money is not everything.
You should appoint the right business-minded CEOs to head those state-owned entities don’t sell them.
Do that for the sake of our children.

PNG Man