New board at PNG Power has ‘wealth of experience’

 INDEPENDENT Public Business Corporation chairman Paul Nerau says the new PNG Power Ltd board brings in a wealth of experience to the organisation.

He said that after new PPL board members were yesterday sworn in after the appointment of most board members was revoked by Cabinet last month.

Nerau said PPL had gone through “some real traumatic happenings” over the past three to four months.

“I think you are the answer we are looking for to put stability back into PPL as a company,” he told the new board members.

“It is the Government’s answer to realignment to the Government’s strategy and restructure of SOES.

“Those of us who swear on the Bible and say the oath, we have to align ourselves to our Minister and the Government of the day.

“The moment that comes into question, we should willingly put in our resignation.

“I think that’s the way we should look at if we can’t resolve to work with the shareholder.”

Nerau said the Government wanted to be abreast of the “new face” of PPL, hence new IPBC managing director Garry Hersey was on the company’s board together with Public Enterprises and State Investments Secretary Dr Clement Waine as deputy chairman.

“The focus of this is a motto which I gave about a month ago in an informal get-together for all SOES, chairmen, directors, and management – ‘together we can’.

“That means for us, as SOEs, IPBC as the shareholder representing the Government, ‘together we can’ grow these organisations.

“Individually, it’s going to be very hard because as you all know business is very competitive in an environment where we are.

“We need to work together.

“Let me give you an example: In 2013 IPBC and all SOEs put together, turned over K5.9 billion