As more discussion is had and questions are asked it appears most people are on board with the need to reorganize. Both IPBC were set up in times of high mistrust and acknowledged political corruption. Neither has worked due to the flawed structures and lack of accountability and as Barker says in the video, "decisions made outside" the entities. You know, like in the back yard. Good insights in this story:
Petromin and IPBC Restructure Insight
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There’s been no immediate impact on the operations of Petromin and IPBC following the government’s recent announcement of a restructure process concerning its state assets.
The Institute of National Affairs says the change might take a whole year before being implemented. Mining and Petroleum Minister William Duma also confirmed this in a media statement.
However, imminent changes will involve the reviewal of management roles and board members.
INA’s Executive Director Paul Barker says restructure process will not necessary mean that employees of Petromin and IPBC will be jobless. Nearly all line staff will be shifted into the new Kumul entities once created. However, management roles are subject to scrutiny and may affect boards of some state entities.
He said the particular creation of the IPBC was Sir Mekere Morauta’s initiative with the process of ensuring state enterprises head boards and management roles recruited through a transparent process; however, that hasn’t been the case for some time now.
This has undermined the role of IPBC and Barker says the restructure intends to address such serious flaws and enforce good governance and proper management to allow each return of state’s assets.
And questions regarding the government’s budget allocation for 2013 are surfacing, however; Treasury Minister Don Polye says the change might have minimal impact on the budget allocation for 2013.
This is subject to whether or not the government pumps further capital into the Kumul entities.
Meanwhile, Petromin’s outgoing Managing Director and CEO, Joshua Kalinoe is in the interest of government’s decision to rationalise state mining and petroleum assets.
In a media statement issued on Monday, Kalinoe said his resignation was due to personnel reasons and nothing to do with the government’s prerogative.
Festus Maiginap, National EMTV News
http://www.youtube.com/watch?feature=player_embedded&v=L2T3vfsJqp0
http://www.emtv.com.pg/home/latest-news/item/petromin-and-ipbc-restructure-insight?category_id=20