PMIZ impacted communities to benefit from spin-offs

By MATTHEW VARI

Sunday, January 25, 2015 (Sunday Chronicle, PNG)

IMPACTED communities living in and around the Pacific Marine Industrial Zone are set to benefit from spinoffs from the major industrial marine project, set to commence construction in by April this year.

Trade, Commerce and Industry Minister Richard Maru informed the media at a press conference during the week that instructions have been made to the department’s secretary to finalize the list of spin-off businesses to offer to the three impact communities of Madang, the Kananam, Rempi, and Baitata people.

“Next week I will be traveling with the (Madang) governor to meet with the member for Madang (district), because we want to ensure that the people of Madang get maximum benefits from this project- letting them know what our views are as a government with the meeting to happen on Thursday or Friday next week,” Minister Maru said.

“Once that is organized, we want to arrange the spinoff benefits an: how they will participate.”

“Once this is complete there will be fresh new elections that will be conducted by the Electoral Commission to appoint the new boards.”

Maru said that it is the department’s desire to make mandatory that only those village people should buy shares in the company should be allowed to vote.

“We want everybody in the village to be shareholders in the holding companies that will be serving the interest of the people and not only one or two people,” the minister explained.

“So if the security contract will be given to an impacted community- they all own the company which will have independent directors on the board that will also include representatives from the Madang Provincial government and the department to help provide oversight to the companies so that the boards do not abuse their position.”

“In the past I find that these types of companies like in the LNG companies are only driven by one or two people who come to Moresby and spend all the money.”

“We will not allow that in Madang and this time we want to try a new model to make sure as a department we get it right in Madang.”