By Cynthia Maku
Nambawan Super Limited Fund (NSL) continues to experience ongoing challenges in retrieving outstanding payments from the State for its outstanding rental arrears and unfunded state shares.
This was revealed by NSL’s CEO Paul Sayer during a 2022 update on the funds progress during the week.
NSL owned properties occupied by State tenants include Revenue Haus (Internal Revenue Commission); Vulupindi Haus (Department of Finance and Department of National Planning); Eda Tano Haus (Department of Lands and Physical Planning); AOPI Centre (Department of Health and Department of Higher Education); and NSL Haus in Lae (Ombudsman Commission, Independent Consumer and Competition Commission, and Auditor General’s Office).
Nambawan Super’s CEO Paul Sayer said in 2022 a challenge for the fund was on late payments of state rentals arrears, unfunded state shares and vested benefits.
“In 2022 the state made a payment of K102 million towards their outstanding rental arrears and a further K167 million to fund the state share benefits of members,” CEO Sayer said.
However, Mr. Sayer said that there are still funds outstanding that needs to be retrieved.
CEO Sayer said that “NSL aims to continue working with the state to ensure that these outstanding funds are paid for its members’ benefits and the payment of these rental arrears by the Government will mark a major milestone in the investment partnership between NSL and the State as it will aid in the continued maintenance of those properties to enhance tenant experience and provide a consistent revenue stream which the Fund can use to reinvest and grow for our members.”
