Maru sees 450,000 businesses in 15 years time

In the next 15 years Papua New Guineans will own 450,000 businesses, says Minister for Trade Commerce and Industry Richard Maru.

Maru revealed this on the occasion of the launching of Gumine district K2.6 million economic growth stimulus package at the invitation of the Member for Gumine and Education Minister Nick Kuman recently.

The objective of the economic stimulus package is to promote micro businesses at the district level that would eventually venture into formal Small Business Enterprise (SME) sector.

One such project that is already being identified with results is the production bulb-onion in the district.

Maru said PNG already has a workable white paper, the SME Policy that has taken the O’Neill-Dion Government two years to put together through in-depth research on SME in other countries.

He said the Government is now promoting SME because of the fact that after 40 years of independence Papua New Guineans owned 10% of business in the country, the majority of the people live below the poverty line despite PNG being rich in resources, 80% of the people do not operate bank accounts, and employment opportunities are not readily available.

Minister Maru said the Government cannot provide us with all our basic needs. The priority is on free education and health. Promoting small business is the way forward for our people to provide for their basic needs.

“That is why we need to generate cash flow in our communities and villages. Parents need to have money to meet the basic needs of their children,” the Minister said.

Caption: File Picture.