• PNG Business News

Only 3 ports making money

The PNG Ports Corporation Ltd relies on three of its 15 ports to fund its operations.

They are Motukea in Port Moresby, Lae and Kimbe.

The other 12 ports do not make money and are being run as part of the PNG Ports community service obligations (CSO) programme.

Managing director Fego Kiniafa said revenue from Motukea, Lae and Kimbe were enough to support the other 12 ports.

“Motukea, Lae and Kimbe generate revenue that funds the operations of the 12 other ports,” Kiniafa said.

“These three also have the capacity to sustain themselves and could amply support their own operations. We have competition from private port facility operators in Port Moresby and Lae, which lessens our ability to fulfil our mandate, because our competitors do not have to support any other port as we do.

“But as a responsible state-owned-entity, PNG Ports is focused on ensuring basic services are delivered to the people, who are the stakeholders.

“Hence, we operate the 12 ports through our CSO regime, as part of giving back to the communities, in ensuring that this nation, so reliant on sea-borne trade, prospers.

“In line with the government’s aspirations and to meet our stakeholder’s demands, PNG Ports has also ensured the rehabilitation and upgrading of all ports in its drive to modernise port operations and drive efficiencies.”

PNG Ports owns and operates 15 of the 23 declared ports in PNG: Aitape, Alotau, Buka, Daru, Kavieng, Kieta, Kimbe, Lae, Lorengau, Madang, Oro Bay, Port Moresby, Rabaul, Vanimo and Wewak.

Source: https://www.thenational.com.pg/only-3-ports-making-money/

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