ICCC announcement good for investors

LAST week’s announcement from the Independent Consumer and Competition Commission (ICCC) about rejecting Air Niugini’s attempt to create a monopoly is not only a tremendous boost to the airline industry but also demonstrates that investment opportunities in our country are promising.
In times of recession many governments reduce all forms of competition to protect their assets thus stifling economies for quick short-term gain.
In this case we see that it is through competition that our economy will become stronger.
As a shareholder in PNG Air, the ICCC announcement gives me hope that the return on investment commitments detailed in the 2016 PNG Air prospectus are more promising than ever unless they have been changed without the investors’ knowledge.
We can only hope that the POMSX suspension is lifted soon and the real value of our stocks are known.
Regardless, the stage is now set for the real sky battle to commence in which we can all claim the benefits.
The timing, however is hopeless, unless the government immediately lifts all domestic travel restrictions that have been preventing us from spending our money through air-travel and contributing to the economy.
The airline industry is suffering under Covid-19 and needs to be able to get ‘bums on seats’ in order for it to provide the service and market competition the ICCC have reinforced.
Hats off to the ICCC commissioner Paulus Ain and his team for the right decision for the benefit of the consumers.

Manu Marikina