By Delly Waigeno – EM TV News, Port Moresby
A new PNG Ports Regulatory Contract was signed at the Independent Consumer and Competition Commission (ICCC) office today.
ICCC Commissioner, Paulus Ain, said with this Regulatory Contract the ICCC can now be able to monitor pricing and port services with due diligence to public interest.
PNG Ports Chief Executive Officer, Stanley Alphonse, said the document was important to PNG Ports as they embark on getting into international best practice.
The signing was attended by the management of PNG Ports Corporation and those from the ICCC.
The regulatory regime between ICCC and PNG Ports has been in existence since 2002.
Through the Regulatory Contract, the ICCC sets the minimum service standard requiremen’s, the price path and the pricing principles.
The ICCC regulates PNG Ports and its services through a regulatory contract. The last one was from January 2010, and expired in December of 2014.
To replace that contract, the ICCC and PNG Ports undertook a review to determine a new Regulatory Contract for the next five years from 2015 to 2019.
Alphonse said the regulatory contract was important for PNG Ports in terms of international best practice at a time when it is now embarking on Public Private Partnership arrangemen’s with new terminal operators.