Africazine:
State-owned enterprises in Papua New Guinea play a crucial role in the nation’s economy.
Last week, State Enterprise Minister William Duma launched a book titled From State to Enterprise, which details the contributions of SOEs over the past 50 years. The book, authored by John Brooksbank, was completed last month and highlights the evolution of these enterprises from government departments to independent, profitable companies.
Book Launch Celebrates 50 Years of SOEs
The launch of From State to Enterprise marks a significant milestone in recognizing the impact of state-owned enterprises in Papua New Guinea. Duma emphasized the need for appreciation, reform, and investment in SOEs, stating that they deserve recognition for their contributions to the lives of citizens.
Brooksbank’s work provides a comprehensive overview of the journey of SOEs, detailing their transition from the post-independence era through various phases, including privatization and the establishment of the Independent Public Business Corporation. Today, Kumul Consolidated Holdings oversees institutions managing over K13 billion in assets.
Papua New Guinea: Key figures on State-owned Enterprises
- K13 billion in assets managed by Kumul Consolidated Holdings
Reflections on Past and Future of SOEs
Duma acknowledged both the shortcomings and successes of SOEs throughout their history. He stressed the importance of being honest about the past to build a better future. The book serves as a vital resource for understanding the evolution of national enterprises and will guide future academic and policy-making efforts.
Next Steps for SOEs and Policy Development
- The book will be used as a guide for academic and policy-making purposes.
State-owned enterprises are vital to Papua New Guinea’s economic landscape and deserve recognition for their contributions.
