Business community opts to challenge govt to deliver
The business community needs to challenge Government to deliver to their expectations. There needs to be a restructure of the economy, but the reality of that situation is bringing the foreign investments in the country and we need it now.
“The external financing we always go after comes at a significant cost and we have done that enough,” said Credit Corporation chief executive officer Peter Aitsi.
Mr Aitsi was speaking at a panel discussion at the Port Moresby Chamber of Commerce and Industry business breakfast with World Bank’s senior country economist Illyas Sarsenov yesterday.
He said over the last four months alone a lot of advertising has been done on property sales and that’s an indicator that the economy is struggling.
“I think the government’s ability to deliver has been put under pressure. Businesses are being played by the government, NGOs who are being employed by these contractors as a result of that some can’t retain their businesses and some had lost their jobs. That’s the reality,” he said.
Mr Aitsi said if the Government is lucky, the upcoming Wafi-Golpu and Papua LNG will be the saviors of the country.
He said there needs to be a restructure of the economy but the reality of that situation is bringing the foreign investments in the country and businesses need it now. “The external financing we always go after comes at a significant cost and we have done that enough… The honeymoon for the government is over.
We have all supported the aspirations of the new government, it has been three months now and we are yet to see a definite plan that tells us we are part of something and can allow us businesses to have confidence to go out and finance the developments that we have planned,” he said.
“These are the challenges in the business community. One of the things I am concerned with is that while the heads have changed but the body is still the same.
“This for me is where the real issue is. “Looking at the government’s ability to deliver some of these large scale projects and I see the same people at the table it worries me.
“Because a lot of my contacts in the business community rely on these large scale projects to pay their employees properly in order to feed their family and these are thousands of people,” Aitsi added.
“We have a serious problem and I think we as the business community need to step up and challenge this government to do more to drive this economy.”
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