MUCH has been said about the purported bad side of Konebada Petroleum Park Authority (KPPA) in the media, which has been responsible for the series of decisions taken by successive governments to date.
This negative reporting has proved detrimental to the authority to realise its purpose, intent and objectives, such that it has thwarted the overall progress and tainted the image.
It is an important government entity as one of the nation’s engine-room for growth and modernisation, specifically, among other activities, downstream processing of petro-chemical by-products of hydro-carbon resources.
Despite all the bad publicity and reporting, KPPA has made significant progresses in the planning and preparatory stages in its development plans in as far as consultation and liaison work with potential investors and financiers is concerned for all intents and purposes of the authority.
To be able to realise this strategic manoeuvres, it had to raise funds internally by leasing 10 per cent of the park to cater for related costs such as travel expenses to go abroad and knock at the doors of investors.
The investors have been identified and are now readily awaiting the Government’s approvals to tie the knots for business to start.
It has set in place the necessary requirements and groundwork to bring in the investors to operate and conduct their businesses in the park.
It has created industrial economic zones.
KPPA has created its subsidiary holding company called Petroleum Parks Holdings Ltd to hold the State’s share through KPPA as stipulated under the KPPA Act.
The amount of stake PNG would acquire shall fall within the Government’s policy framework.
Prime Minister James Marape, if it is your policy platform and desire to take back PNG, KPPA is the perfect case in point for a start.
Take back KPPA and you have taken PNG back and made it rich already.
At the moment, the KPPA Act is still effective and in force and just needs your urgent attention to put it back on its feet and revive it by way of giving executive directions to line agencies such as Department of Personnel Management and Department of Treasury to accord full support in terms of staffing, administration and funding.
Prioritise KPPA as one of the Government’s key agencies to realise your policy platform of making PNG a rich black nation in 10 years.
Rather than wasting hundreds of millions of kina on non-performing provinces, departments and agencies, divert some of the funds to support KPPA with a budget allocation of K100 million to K200 million annually to cater for its operational commitments with a view to bringing in the first batch of investors into the park by second quarter of 2021.
The benefits of progressing KPPA are huge.