Support applauded

THE people of this country, engaging in the Small Medium Enterprises (SME) and the informal sector, applaud the government’s decision to continue its budget support with the National Development Bank (NDB).
The dailies reported on Friday (25/10/19) that another injection of K200m was forthcoming from the government aimed at “empowering the SMEs”.
The annual gesture is needed to boost SME businesses.
When Richard Maru was former managing director and subsequently the Minister for Trade and Commerce, he touted the SME Policy and made a number of fact finding tours in the region and the world.
Nothing much has come of all these rhetoric.
What has become of the SME Policy is anyone’s guess.
Our people continue to be by-standers in the SME space as foreigners interests continue to dominate.
The speculations that have done the rounds are that the annual budget support to NDB from the Government have been given to cronies and those already well-off in the SME space, whilst those genuine, struggling SME owners have been left high and dry.
Also, it will be interesting to find out if senior staff and executives of NDB have taken out any loans and if they have repaid all of it with interest.
There were a number of NDB assets, including residential properties that were put up for sale over the last few years in prime locations like Port Moresby.
The public wonders if these were disposed through transparent and competitive bidding process.
It would be good to have Sir John Pundari and his committee (PAC) cast an eye over the NDB’s books in the last few years, to ensure there is nothing untoward and that the annual budget support to NDB from public funds are appropriated for the purposes intended.
And disposal of NDB assets are above board.
Over to you chairman Sir John.

Pro Bono