Government owes CPL K8mil

CITY Pharmacy Ltd (CPL) is disappointed that the Government has paid only K10 million of the K18 million it owes the group from a year ago.
Managing director Mahesh Patel said the payments for pharmaceuticals supplied to the Health Department were slow and impacting on the group.
“Payments are very slow. The outstanding is now K8 million,” Patel told The National yesterday.
“It is having a big impact on our cash flow as we need to pay our suppliers in advance.
“We employ almost 3,000 people across the nation and need to pay them on time fortnightly.
“Credit terms need to be adhered to by our customers.”
CPL Group is a leading retail and wholesale organisation founded in 1987 and listed on the Port Moresby Stock Exchange. The company started as the City Pharmacy chain, bringing primary healthcare support to centres throughout Papua New Guinea.
The CPL Group has recently established itself as one of PNG’s preeminent corporations through its acquisitions of the Stop & Shop supermarket chain in Port Moresby in 2005 and the national Hardware Haus chain in 2009.
It has also partnered with several brands to bring new products and services to the people of Papua New Guinea.