Business News

Government wants two SOE’s to Pay Dividends

By Adelaide Sirox Kari – EMTV News, Port Moresby

Minister for Public Enterprise and State Investment, William Duma, wants Air Niugini and Kumul Telikom Holdings to pay dividends to the government.

Minister Duma yesterday (October 18) announced the National Executive Council appointment of Managing Directors for the two State-Owned Entities.

The appointments come when both companies are facing issues with customer confidence.

Minister Duma announced Alan Milen, as the Managing Director for Air Niugini Ltd, and Paul Hydes for Kumul Telikom Holdings.

Minister Duma says he is hoping the pair will bring a fresh start for both state-owned entities.

“I remain confident as minister responsible for all our SOE’s that these two gentlemen will help change the way we have been able to manage those two important companies and deliver the results that our people of Papua New Guinea have been looking forward to”

The minister says both SOE’s should start paying dividends to the government.

“With the new chairman and new bo0ard members of these two companies, coupled with the recent appointment of these two gentlemen, I believe that given time both companies will turn around and contribute to our economy in terms of dividends, ” said Minister Duma.

With a recent uproar and lack of confidence from the public with both SOE’s, Minister Duma says he is hoping the new managing directors can turn the situation around.

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