Executive foresees FX woes

By DALE LUMA
THE problem of foreign exchange (FX) currency shortage from last year will still be experienced this year, says Brian Bell Group Ltd chief executive officer Cameron Mackellar.
Mackellar said a lot of businesses in the country, including Brian Bell had experienced FX problems throughout last year but had managed to deal with it.
“Lots of challenges for us and every other business in Papua New Guinea throughout 2019 and some of those will continue into 2020, such as the issue of foreign exchange currency,” he said.
“Foreign exchange has been an issue in PNG for the past seven or so years and we have come to deal with it.
“However, we can’t complain, it’s been a positive year and we chart our own course and own destiny.
“In many ways it was a challenging year in 2019 for all of PNG, with a Government change and a number of key projects which were meant to get underway but didn’t.
“However, we are very pleased with our Group’s performance in 2019 and the support we received from all of our loyal customers.
“It was overwhelming for us and helped drive some great results.
“Not only has each of our divisions performed well and better than we expected but we have delivered far more than just growth in sales across the board.
“We have invested heavily in our team, our customers as well as a number of major capital projects to set up for our future.
“We don’t rely on Government or others to determine our future but we do partner with a number of great organisations, suppliers and businesses who want to help support a better future.”