Sasindran Muthuvel has officially taken over the State Enterprise ministry from outgoing Minister William Duma today at the Kumul Consolidated Holdings office in Port Moresby.
Duma when giving his outgoing remarks said the ministry is very challenging.
“It’s very challenging ministry and it’s of the difficult ministries fora minister to work in, particularly when you’re looking at the over 10 State Owned Enterprise (SOE) companies owned by the government”, Duma said.
He said it’s difficult but has confidence in Mr Muthuvel who has with him great wealth of experience.
Duma said he has no regrets leaving the ministry in the hands of incoming Mr Muthuvel stressing that he is a committed and hardworking minister with wealth of experience and has no doubt he will deliver to expectations.
Duma told Muthuvel in his parting comments to look into owning most of the companies to see funds circulating within the country in the future.
Meanwhile, Minister Muthuvel said he will accept the challenge left by Duma and said he will meet the expectations.
“I intend to study all various departments and tell our country what our economic situations are like,
When we talk about take back PNG,we have to take back our SOE’s, so that we will bring immediate changes,”Muthuvel stressed.
Here are points stressed by Muthuvel when leading the Ministry:
· Intends to reduce political interference from State Owned Companies. He said businesses have to run as businesses and not as government departments.
· SET UP KUMUL AGRICULTURE- Muthuval will be urging the Government to put talks in place to set up the Kumul Agriculture.
· PAYING DIVIDENDS - The Government must pay back Kumul Consolidated Holdings (KCH) in whatever outstanding it owes whilst it expects KCH to pay dividends.
· CLEAR DIVIDEND POLICY- There will be a clear dividend policy in supporting the Government and not to cannibalize SOE companies and dig from their capital.
· SOE FINANCIAL REPORTS- All financial reports of all State Owned Enterprise companies will be revealed by the end July.