Minister for state own enterprise, Ben Micah announced in Lae yesterday that Government owned businesses will be partnering in business to maintained the viability of state owned enterprises.
Mr. Micah’s comMen’s come after an ailing drop in the performance of the state owned businesses that lead to a significant drop in generating revenue into the government coffers.
The state enterprise minister was in Lae yesterday to launch the operation of the Post logistics.
Over the past years, State Owned Businesses according to State Enterprise Minister have been on the verge of liquidation. But that is a thing of the past.
Micah says government will make sure organizations are nurtured unlike in previous years.
One of the aim is to invest in nationally owned businesses so that the money stays within the economy, says the Minister.
The state Minister was in Lae yesterday to officiate Post Logistics; a sister company of PNG’s state owned business Post PNG.
About two weeks ago, the company received K14 million from the National Government.
Post PNG was created out of the reform of the government’s SOE.
It underwent a restructuring to prove efficiencies and growth outcomes.
This is a factor to give a boost to State Owned Enterprises and gurantee its existence in competitive markets and as the Economy of PNG grows, more SOE reforms are expected.