NRI: Market environment needs better policies

The National Business

AN enabling market environment must be created with policy and regulation, infrastructure, services and better management, according to the National Research Institute of PNG.
It said this was because markets provided food for families and a major source of income for small and medium enterprises.
It contributes to Government revenue.
This was according to the institute’s research report written by informal economy research programme leader and senior research fellow Dr Elizabeth Kopel.
It said market places were central points for informal meetings and socialisation.
Dr Kopel suggested that the functions of markets should be incorporated into the local government policy and regulatory frameworks.
“Market policy and regulation with clear governance systems facilitate ongoing planning and resource allocation and guide implementation,” she said.
The report, titled Strategies to improve market places in Papua New Guinea, outlined innovative ways to boost incomes, create opportunities for SMEs and increase Government revenue.
They included:

  • EMPLOY dedicated and skilled market workers;
  • PROVIDE infrastructure and services;
  • MAINTAIN safety and security;
  • IMPROVE revenue generation strategies;
  • ENCOURAGE women representation in market governance;
  • REDUCE political influence affecting markets;
  • CREATE alternate spaces for vendors selling store goods;
  • CREATE markets as places of business; and,
  • ADDRESS conflict between levels of government over market functions and revenue sharing.