Kumarasiri takes over IPBC

Business, Normal

The National,Wednesday 13th of February, 2013

AIR Niugini chief executive officer Wasantha Kumarasiri took over the reins as managing director of Independent Public Business Corporation (IPBC) during a handover ceremony yesterday.
Former managing director Thomas Abe said the last 18 months had been challenging amidst the government’s on-going substantial reform programme covering IPBC and all state-owned enterprises (SOEs).
He said IPBC achievements during his term included:
n    Reform of IPBC Act and IPBC systems and processes;
n    Instituting a programme of transparency and accountability;
n    Drastic improvements to compliance with statutory requirements; and
n Kick-starting important national projects such Lae Tidal Basin and Port Moresby Sewerage System Upgrade.
“Compared to years 2003-10, we (IPBC) have come a long way,” Abe said,
“I am honoured to have led the reform of an organisation that has so much to contribute to social and economic development of the nation.
“I leave IPBC in very good shape.
“I thank the good staff and sincerely hope the new government will entrench these reforms when they get around to creating IPBC’s successor organisation.
“Must never forget that IPBC and SOEs are owned by the people and for the people.
“I believe in the principle that resources are always limited.
“We must prioritise and wisely use our resources for PNG and stick to a budget and not overspend.”
Abe said the basic requirements for success in delivery were freedom from political interference, transparency and accountability, statutory compliance, competitive ethos and professional staff.