PUBLIC Enterprises Minister Arthur Somare says Post PNG has doubled its revenue to more than K40 million since trading itself out of interim liquidation in late 2002.
“Today, it has a logistics network covering 72 of PNG’s 89 districts, giving it the most extensive national coverage of any Government agency or private sector organisation.
“An estimated 75% of the population has access to a post office.
“As part of its vision for improved services, Post PNG has entered into strategic partnerships and pharmacy outlets have been established in some areas, including Alotau, Bialla, Maprik and Kokopo.
“Quite remarkably, Post PNG’s Salim Moni Kwik programme has become a driving force in empowerment of rural communities. About K170 million was transmitted in this manner last year, having doubled in less than five years.”
“Much of this money is from Papua New Guineans who have become employed for the first time in Port Moresby and Lae because of the upsurge in jobs in the construction sector and elsewhere.
“These funds help their families meet essential day-to-day expenditures and support the economy at a local level,” Mr Somare said.
The minister said this recently to commend Post PNG for its pace-setting role for being declared as one of five government agencies among the 900 examined by the Public Accounts Committee that had maintained properly audited and reliable financial records
“I wish to commend Post PNG acting chairman Fred Cook and chief executive Peter Maiden and their staff for being singled out by the parliamentary PAC for high standards of accountability and transparency.
“Good governance and transparency, as shown by well kept financial records, are the hallmarks of an organisation that is pursuing excellence.
“The management and staff of Post PNG have done a highly commendable job in a difficult environment. I am sure everyone will appreciate that profit margins from selling postage stamps and related activities are small.
“Yet Post PNG has built up an outstanding operation while funding its Community Service Obligations.
“More than 30 postal operations are run at a loss with an estimated 55% of all postal sites only contributing 1% of Post PNG’s revenue,” Mr Somare said.
He said all PNG’s State-owned enterprises had transformed their operations, but most obviously, still had a long way to go to meet the high standards set by Post PNG.
He urged the Independent Public Business Corporation to ensure that this challenge was met as quickly as possible.