Firm went through challenges

 PNG Power Ltd chairman Larry Andagali says the company has been through “very-challenging” times recently.

He said this yesterday when welcoming new PPL board members who were sworn in.

“It’s been a really tough year for us, especially for myself as chairman for a year now, since March 2014,” Andagali said.

“After three months, I tendered my resignation, but my resignation was rejected by both the Minister (Ben Micah) and the Prime Minister so I continued.

“Now I am more than determined to be your chairman and we will be working together to ensure that some of the fundamental structural changes that need to take place must continue.

“We can’t achieve it overnight, but we’re all determined to make it happen.

“I welcome the new board.”

Andagali gave the anecdotal evidence of going through “humiliation” in public every time there was a power blackout. 

He commended the former board members for the knowledge and experience they had brought to PPL until their appointments were revoked by Cabinet.

“I’m happy that we have a solid board to move forward,” Andagali said.

“PNG Power has a lot of challenges. My previous board had recognised and realised that and there were things that we had done.

“We brought the senior executive managers and board together and had July 1, 2014, set as the ‘date of destiny’ with three objectives that we set to move forward.”

He said one of the achievements was managing the cash flow and bringing the overdraft facility from K40 million to under K20 million.

“In 2015 we were targeting about K50 million in savings and I think we are almost there, almost K30 million in re-negotiation of fuel contract and security contract.”