Business News

State Owned Entities Performance

By Meriba Tulo – EM TV News, Port Moresby

For the last two years, State Owned Entities have succeeded in being more commercially minded – with more success.

When speaking to EMTV News, Public Enterprise & State Investments Minister, Ben Micah, says this has been due to a shift in thinking by SOE’s in doing business.

The Minister was quick to point out the recent success of SOE’s in providing much needed revenue for the country – this included K400 million in dividend revenue in 2014, as well as this year.

“In the last NEC, Cabinet approved Kumul Consolidated Holdings dividend payment of K350 million to support the 2015 budget,” said Minister Micah.

However, challenges still remain, which, according to Minister Micah, will have to be taken head-on by SOE’s.

“…in the next year I think the challenge (for SOE’s) will be further consolidation so that we are able to separate clearly the regulatory and law making areas of government, and the business of government with the private sector in a commercial environment.”

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