PNG Department Of Public Enterprises

The Department of Public Enterprises was re-established by the NEC on July 4th 2014 (NEC Decision 235/2013) and further reaffirmed its (NEC Decision 469/2013). The Department's core functions are broadly categorized as follows: i. Provide Policy Oversight to State-owned Enterprises (SOEs) The Department endeavors to provide relevant enabling policy environment for SOEs to thrive and perform effectively to deliver on their service delivery and profitability. An overarching policy document on the Principles of State Ownership and Participation in Commercial Activities was approved by the NEC on 23rd April 2015 in Decision No. 84/2015 which is one of the milestone deliverables for the Department ii. Ownership of State-owned Enterprises The Department provide policy oversights not only to the assets vested within the General Business Trust (GBT) which is managed by the Kumul Consolidated Holdings Limited (KCHL)formerly Independent Public Business Corporation (IPBC) but also to those assets outside of KCHL, such as Petromin, National Airport Corporation, National Development Bank, National Broadcasting Corporation, National Housing Corporation, and so on. The Department sees its mandate as being broader, although, it reports to the Minister for Public Enterprise and State Investments because the policies and principles of commercial operations are generic, except when they are tailored to individual sector where they fall under the ambit of the responsible Minister. The Department is the delegated owner of ALL SOEs for and on behalf of the State and the People of PNG. iii. Incubate Start-ups New ideas are captured through creation of special purpose vehicles (SPVs) and then formally established under KCHL. These SPVs are initially incubated within the Department. One such SPV is PNG DataCo, which at present is investing in the fiber optic cable links that will enable data flow from the world to the South Pacific and PNG.