Deputy Secretary for Public Health, Mr. Ken Wai congratulated the PNG Nurses nationwide for a great achievement in establishing their very own Savings and Loans Society this week.
Mr Wai represented the Secretary for Health, Dr. Osborne Liko at the historical event of the launch of the Nurses’ Savings & Loans Society on Thursday 15 February 2024.
He acknowledged the 7000-plus health workers in the country, encouraging unity and collaboration in alleviating individual and corporate economic burdens. He referred to the success of the Teachers’ Association which he said the health sector could learn from.
Referring to the theme of the program for the Savings and Loans launch being; “Financial Inclusion for all nurses in Papua New Guinea,” Mr. Wai said without money, life cannot be enabled.
“We all work for money, so at these tough financial times, if only one person is trying to carry a load, it is impossible, but when you have a team and a group of like-minded people, you can bear that load,” Mr Wai stated.
He referred to what teachers often do with the TISA Savings and Loans Society and the PNG Teachers’ Association, which he referred to as ‘working together’. The result is they seem to be prospering.
“We in the health sector we are good at dividing ourselves. We have the NDA, we have the HEO Association, and we have the Nurses Association. Sometimes we need to work together and empower ourselves, but you nurses are one of the organized industrial unions within the health sector. So we commend you and your leadership, Mr. Kebai, on behalf of the health department. This is a great milestone and a great achievement for your members,” Mr Wai said.
He encouraged the union leadership to look after their financial members. He said the nurses could be the leaders in the health sector to bring financial inclusion by having a health sector Savings and Loans Society.
“I want to encourage us in the health sector to come together to form a health savings and loans society so that we can, so you have to lead us and you are already leading and I believe one day we will come together,” Wai said.
According to the Acting CEO of the PNG Nurses Savings and Loans Society, the members will be paying only one percent (1 percent) per month for every loan taken, unlike the 30-40 percent interest they currently pay to loan sharks.
The Savings & Loans Society is housed at the current PNGNA premises at 3-Mile and is now in operation after meeting all requirements of the Bank of PNG.