IPBC Business Plan Approved

The Minister for Public Enterprises, Sir Mekere Morauta, said today National Executive Council had approved the
corporation’s Business Plan for 2012.

“The plan, the first for IPBC in its 10 years of existence despite it being a requirement of the IPBC Act, is now the
official internal framework under which the corporation will operate,” he said.

“It will guide IPBC as it resumes the important national task of reforming and rehabilitating the Public Enterprises
that it is responsible for so that affordable services are delivered to the people more effectively.

“The Business Plan sets out IPBC’s vision, values and goals and describes the systems and processes that are
applicable to its operations.”

Sir Mekere said the O’Neill-Namah Government had refocussed the efforts of IPBC and the Public Enterprises it
controls, giving more emphasis to service delivery and Community Service Obligations, good governance and
due process, financial efficiency and responsibility and conformity to policies and legislation controlling Public

IPBC’s Vision and Mission Statements had been reworded to reflect this.

The Vision Statement reads:

‘To ensure that the Government Assets, and in particular the State Owned Enterprises, are managed
effectively and efficiently, and deliver timely, quality services to the benefit of the people of Papua New

The Mission Statement reads:

‘To institute strong governance, best practice and commercial accountability structures in the Independent
Public Business Corporation to oversight and manage the timely, cost efficient and effective delivery of
relevant goods and services to the people of Papua New Guinea utilising the assets and investments
placed into the care of the Corporation’.

The essential elements of the Business Plans for each Public Enterprise, which were recently approved by the
IPBC board, are incorporated in the IPBC Business Plan. The major projects and plans for each Public
Enterprise are also outlined, including investment plans and targeted actions.

Significant issues for IPBC are detailed, along with actions plans for each issue.

Sir Mekere said strategic reviews of each Public Enterprise had been completed.

“It is clear that there is room for significant improvement in different areas across all Public
Enterprises,” he said.

“Most have long-term structural issues that need to be dealt with and a few have serious
immediate problems.”

“IPBC’s first Business Plan is the framework we will use to improve service delivery and deal with
those long-term structural issues.”

Mekere Morauta KCMG MP
Minister for Public Enterprises

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