Struggling SOEs need help: Duma

STATE Enterprises Minister William Duma says an increase in blackouts, flight cancellations and poor telecommunications connectivity are some consequences of challenges faced by state owned enterprises (SOEs).
In a ministerial statement on SOEs, Duma told Parliament that these issues would require policy and investment solutions.
“The challenges we face are both local, requiring public policy solutions and global, requiring appropriate international public finance solutions,” he said.
“SOEs require targeted sustained capital investment funding to assist in replacing of aging infrastructure and assets; Air Niugini must undergo a sustantial fleet replacement programme.
“PNG Power must absorb K500 million in obligations each year to ensure power is provided across the smaller unprofitable centres.
“KCH and the SOEs have developed and agreed on a series of objectives as a way forward,” he said.
He said among those was the privatisation of Air Niugini and commercialisation of the Peoples Microbank Ltd.