Official describes SME sector as ‘sleeping giant’

THE Small to Medium Enterprise Corporation has been described as a sleeping giant by its managing director Petrus Ralda during the swearing-in of board members.
Ralda said the organisation was a sleeping giant because it represented almost 85 per cent of the people “who are struggling” financially.
“If you want to take back PNG, it should be through the small to medium enterprises sector because this is where the people are,” he said.
Ralda said in social and economic planning and resource allocation, “population becomes the common denominator therefore money and services should be allocated accordingly”.
“The Government’s focus is now on the SME sector and it is right in doing that,” he said.
“There will be a lot of pressure on this organisation because we are not represented in the provinces.
“We are based in Port Moresby but we try our best to work with stakeholders in terms of structuring partnership alignment. We work with all stakeholders to support SMEs in PNG.”
Ralda said the SME Corporation was operating without a board since April 5.
“This team, we believe with the direction and the leadership of the board, will provide direction.
“And at the operational level, the management stands ready to work with the new board.”
Board chairman Michael Mell also handed over the reins to John Pora Schmidt.