PNG Power Limited swore in its newly-appointed board chairman and directors in Port Moresby today.
The board chairman and its directors have a mammoth task ahead and that is to drive revenue and bring in dividends, a responsibility the power companies lack time and again.
Peter Nupiri was sworn in as the chairman along with directors Maureen Mori and Carolyn Blacklock, who is also the company’s acting managing director.
Kumul Consolidated Holdings Limited chairman, Paul Nerau, wasted no time in reminding Nupiri and his counterparts of their mandated tasks.
Revenue and dividend generation and providing reliable electricity to up 70 percent of the country are their immediate responsibilities.
“You are here to make money as a State Owned Enterprise and pay dividend to the government while providing the service,” Nerau said.
Nerau added that PNG Power makes a big turnover but fails to make profit from this, hence, the challenge now lies with the new board and its members to fix.
Delivering his maiden speech, Nupiri outlined areas that need urgent improvement.
“We need to set up a new corporate strategy as to how we operate this company, look at current business model and tap into the digital dynamics,” stated Nupiri.
Acting managing director and board director, Carolyn Blacklock, shared long and short term plans, amongst these were tariff reduction and implement reforms from a high to a least cost generation transmission.
“Let’s call this need for a tariff reduction for added motivation to change the way we do business in PNG Power and ensure we play a critical role in underpinning social development and economic growth,” Blacklock said.
(From left: Director of PPL Chey Scovell, Board director Carolyn Blacklock, Paul Nerau, Maureen Mori, Peter Nupiri and Mark Chan)