Privatisation plans in the works: MP

THE Government is working with the superfunds to facilitate partial privatisation of Telikom, Treasurer Ian Ling-Stuckey says.
Ling-Stuckey said this would encourage competition in the respective market.
“Vodafone’s entry to the PNG market is (also) welcomed,” he said yesterday after Telstra announced its acquisition of Digicel Pacific.
“The Marape Government, through Kumul Consolidated Holdings, is also working with PNG superannuation funds on a partial privatisation of Telikom to further encourage competition in the telecommunications market.
“The aim is the further advancement of products and services for the benefit and welfare of our citizens.
“This work is being done working closely with the Asian Development Bank.
“Work is also being done to help lower internet costs so that customers can fully benefit from the much faster connections provided through the Coral Sea cable, though work on this has not progressed as swiftly as the government has expected.
“Further major reforms are being undertaken in other key economic sectors, particularly agriculture.
“Reform of the banking sector, which currently has some of the highest costs in the world, is also a priority.
“This reform work is known as micro-economic reform.
“It is in addition to the macro-economic reform work being done on budget repair and reconstruction to support the economy as the world recovers from the Coronavirus.”