Political crisis bad for business

POLITICAL instability is a hindrance to economic growth, says Micro Small Medium Enterprise Council (MSMEC) president Desmond Yaninen.
In response to queries from The National, Yaninen said the council was glad that the politics had settled until April next year so the country could get back to growing the economy.
A senior source in the business community when asked by The National on what the recent political power play meant for the business community, said: “Politics is for politicians, governing is for government, and doing business is the business of businesses.
“Whenever any of these have hiccups, or interfere with another, it adversely impacts all others.
“In the absence of consultation leading into the budget, and also the absence of the budget lock up, we are in a unique situation in which PNG has a new budget.
“Those that it impacts who are the taxpayers are yet to see it, so we’re not in a position to make comments.
“It could be good, who knows, we will have to wait until we can review it, digest it and discuss it before we can comment on it.”
Also commenting on the move by State Enterprise Minister Sasindran Muthuvel’s move to the Opposition and his claim of being undermined in his decision making, the source said: “We, nor I can speculate or comment on his own feelings.
“The industry has appreciated his efforts to depoliticise the SOEs (State-owned enterprises).
“He has had mixed success, but he made his best efforts.
“The performance of State-owned enterprises, or lack thereof isn’t due to the anything current such as new board members or managing directors.
“Everyone understands that there are legacy issues at play.”