Govt open to partnerships: PM

THE Government wants to work with superannuation funds and savings and loans societies to give workers access to credit facilities to go into business after retirement, says Prime Minister James Marape.
This will be done through the small-medium enterprise (SME) funding programme.
Marape, in a radio talkback show yesterday, said a partnership between the superfunds, banks and Government could allow people have access to land and credit facilities much easily.
He said when members of superfunds and savings and loans societies reached retirement, instead of spending the savings they have, they could be linked to the lending provided by the Government.
“They can go home and engage in a little guesthouse, (or) in an agriculture-based SME or retail shop,” Marape said.
“That, for the next five to six years, could grow an army of SMEs and entrepreneurs in the country.
“Then, we are certainly creating a multiplier effect.
“I personally believe that this is the way we should be going for the next few years.
“You already know people who are contributing and there is already a link in as far as investment or partnerships are concerned.
“So just like the banks, which was easier for us to partner them, we could come in to that space so it’s certainly worth looking into.
“You could encourage your members to look into that space and cabinet, we would look into that partnership.”