Despite tough economic times, the private sector has been commended for being the backbone of the economy.
Deputy Prime Minister & Treasurer, Charles Abel, made these remarks when addressing NASFUND’s Employer Conference in Port Moresby.
Addressing those present, Abel said the government was looking to create an environment to grow the private sector – which has been described as the engine room of the economy.
He said despite tough economic times, NASFUND’s performance was exceptional, with the fund continuing to perform positively.
NASFUND Chief Executive Officer, Ian Tarutia, spoke of the fund’s results over the last five year.
He said despite challenging economic times, strategic investments in strong area continued to reap rewards for contributors.
The fund’s performance, guided by a five year plan from 2013 to 2018.
He added that the Board of NASFUND would soon be developing the next five year plan to chart the way forward.
Mr Tarutia has also hinted at further innovation, with the Fund keen to improve its offering to more than five hundred thousand contributors around the country.