State owes CPL, says Patel

By SHIRLEY MAULUDU
THERE are still outstanding payments that the Government needs to sort out for the pharmaceutical products supplied to it by City Pharmacy Limited.
CPL chairman Mahesh Patel, confirmed this when The National queried some information contained in the company’s half-year report.
“Yes there are outstanding (payments) from the Government,” Patel said.
“We are getting staggered payments.
“And while it’s a big issue for us, we are committed to supply the Government and ensure that during the festive season.”
The National could not confirm how much the Government owes CPL for the pharmaceutical products supplied.
But Patel noted that it had been the situation in the past years, which the company was managing.
“We have been through this issue over the past 30 years,” he said.
“But it has always come good, albeit, slowly,” he said.
“We understand the Government’s situation and working together to resolve issues.”
The CPL group is a retail and wholesale organisation founded in 1986 and listed on the Port Moresby stock exchange.
The company started as the City Pharmacy chain, providing primary healthcare support to centres around PNG.
The group recently established itself as one of PNG’s major corporations through its acquisition of the Stop and Shop supermarket chain in Port Moresby in 2005 and the national Hardware Haus chain in 2009. It partnered several brands to bring new products and services.