PNG plans privatisation spree

Wednesday, April 29, 1998 - 10:00

PNG plans privatisation spree

The Papua New Guinea government plans to sell many of its assets to reduce a 3.5 billion kina ($US 1.7 billion) debt.

Prime Minister Bill Skate told Parliament last week the government would move to divest state-owned assets.

The Sydney Morning Herald reports that assets which could be sold include the national telecommunications company (Telikom), the electricity supplier (Elcom), the Harbour Authority, the national postal system and the PNG Banking Corporation.

[From Pacnews/Ioane news service.]

From GLW issue 315