Government will provide K18 million as seed capital to Defense Commercial Company

The National Government will provide a seed capital of over K18 million to support the commercial arm of the PNG Defence Force.

PNGDF acting chief of staff Raymond Numa told Loop PNG that “government does not give has enough money and with the government approved NEC decision we have set up this company to generate extra funds and (to) help us to deliver our core function.”

The company was established under the National Executive Council decision of 2012 to address the challenges faced by PNGDF.

 He added that Defence Commercial Incorporated Ltd which is registered under Companies Name Act will become sustainable in the next five years.

“Our core function is to defend the country; we got ships and aircraft to operate which cost a lot of money and company will help us sustain it.”

 It was revealed during the launching that the PNGDF commercial arm will venture into four business areas of travel services, hire car, real estate and fuel distribution services.

Charles Yapumi