Establish sovereign wealth fund for PNG

A SOVEREIGN wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals or in alternative investment such as private equity fund or hedge funds.
An obvious purpose of the fund is to save for future generations or keep additional reserve funds for future generations.
Papua New Guinea does not have a sovereign wealth fund.
A bit of comparison with neighbouring Timor Leste would make us think seriously.
Despite domestic political gridlock and being a young country, the total assets of Timor Leste’s sovereign wealth fund stands at about K63 billion.
This is astonishing.
PNG be gearing up to establish a sovereign wealth fund.
I support Kandep MP Don Polye’s creative insight recently, appealing to the Government to create a sovereign wealth fund.
It’s never too late as PNG has the potential for a promising and healthy fund.
Our country has rich resource deposits.
If the Government had established a fund earlier on, we should have already grown into the largest fund on the planet.
We would probably surpass Norway by now.
The Government should heed Polye’s advice and start now.

Justin Max Undi