State Enterprises Minister William Duma has announced that PNG Ports Corporation has proved to be the only enterprise to have made a net profit of over a K100 million.
That was for the PNG Ports Corporation 2021 Fiscal Year.
Duma stated that this success was due to the dedication and experience of a strong management team and the commitment of a skilled workforce led by an equally strong Chief Executive Officer, the late Mr Fego Kiniafa.
Duma further added that one of the significant milestones achieved by the PNGCL is the 30 year-Year Infrastructure Master Plan under the SOE Reform program.
“Aside from being one of the largest bilateral development projects with the Australian Government under the Australian Infrastructure Fund for the Pacific (AIFFP), the provincial ports upgrade will encourage national content by ensuring that some contracts are awarded to qualified PNG engineering and construction companies. The opportunities for indirect economic prosperity from this series of development are substantial.”
Minister Duma urged other SOEs to follow and launch this in their respective organizations.
