Move to sell state enterprises supported


YOUR front page story titled ‘Up for sale’ on Tuesday should be the way forward for all government utility companies.
The decision to sell utility companies is the best decision that will pave way for these companies to generate profit and at the same time provide much-needed services.
However, they should be regulated by the Government and allowed to be competitive.
If possible, regulate the companies to be listed on the PNG stock markets for ordinary citizens to buy shares and participate in the annual profits.
I recall when the government privatised PNG Banking Corporation, there was great uproar, including myself.
How foolish we were then.
Years later (now), we are reaping benefits from BSP exponentially, banking services delivered to rural areas and shareholders benefiting from annual-declared profits.
The current BSP is performing way beyond other state agencies and bringing in dividends not matched by other state entities.
BSP has spread its wing beyond our boundaries, into the Pacific islands, and may be considering penetrating into other economies, who knows, Asia could be its next target.
But remember that BSP was once PNG Banking Corporation many years ago which we did not want it changed.
Foresighted leadership and legacy decision making is not for timid souls and we applaud the decision made by the Government.
Another opportunity that clearly arises from this is competition.
Competition will allow for provincial governments to partner in basic utility services such as water and electricity.
Provincial and local government partnership is important when it comes to pricing of services to suit their local economy.
Each province’s capacity to generate income differs.
This means that utility pricing cannot be uniform across all provinces.

Ruthy Cruz
Jabiru Drive, Gordon

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