The National Government can use other means to settle the million kina debt it owes to public servants employers’ contribution to Nambawan Super Ltd (NSL), says board chairman Anthony Smare.
“There is a variety of options that the State has, they can sign a loan agreement with us where we lend them money (to pay existing members) and they give us treasure bills, and the other option is that they can give us state assets,” Smare told NSL members in Port Moresby yesterday.
He added that, because of the current economic conditions of the country, NSL board understands the government’s monetary situation and it’s in constant dialogue to settle the outstanding contributions.
Since the decision by NSL board to pay retiring public servants only their salary contributions since December 2015, 1667 former government employees are still waiting to be paid their employers’ contribution.
NSL chief executive officer Garry Tunstall said the outstanding State contribution stands at K63 million.
The National Government this year paid K75 million of the outstanding balance of K138 million accumulated over the years.
Tunstall said members will only be paid their employers’ contribution to their superannuation when the National Government pays up.
NSL board and management will be meeting with Prime Minister Peter O’Neill next week to find a way forward.