Minister for Public Enterprise and State Investments, Ben Micah has praised State Owned Enterprise, PNG Ports Corporation for its accountability in declaring K8.5 million to the Kumul Consolidated Holdings (KCH).
KCH was previously known as the Independent Public Business Corporation( IPBC).
PNG Ports declared a full dividend of K17 million at the end of the 2012 Financial Year.
In a presentation, PNG Ports Board chairman Nathaniel Poya declared the second instalment payment of K8.5 million.
“You have proven that you are worthy of the stewardship that you have been given and you have been accountable to the shareholder, congratulations.
“When somebody gives you a responsibility and gives you a specific instruction to deliver more than what is due to him, you have to deliver.
“ The magnitude of the money is not important to me as the minister responsible but the importance is that you are at least giving back to the shareholder what is due to the shareholder and why you are in this business”, said Micah.