The political responsibility for PNG Power Limited was officially handed over in Port Moresby from outgoing Minister for PNG Power State, Hon. William Duma, to the incoming Minister Hon. Richard Maru.
The handover program was officiated by PNG Power CEO Mr. Paul Bayly and attended by Minister Duma, Minister Maru, and PNG Power staff and management.
Mr. Bayly described the event as a significant moment in the life of PNG Power.
“Today we gather for a moment of significance in the life of PNG Power, marking the formal handover of ministerial leadership. Ceremonies such as these remind us of the continuity of service, the stability of our institutions, and the shared commitment we hold to the people of Papua New Guinea,” he said.
He thanked Minister Duma for his leadership, guidance and friendship, and welcomed and pledged boss commitmenf to Minister Maru.
“We look forward to working under your leadership and guidance as we continue to strengthen PNG Power and advance the government’s priorities for the electricity sector. Our team stands ready to support your vision,” Mr. Bayly said.
He also commended staff for their professionalism, saying their dedication ensures “transitions like these are conducted with dignity, respect, and unity of purpose.”
Minister Duma said political oversight of PPL now passes to Minister Maru. The NEC’s reform mandate remains, with the Ministerial Oversight Committee chaired by the Prime Minister to continue. Kumul Consolidated Holdings will report monthly on restructuring and privatization.
“PNG Power problems were decades in the making and they will not disappear in a single budget cycle. But the direction is set and the results are starting to show,” Mr. Duma said.
He thanked the CEO, Board, staff, KCH, development partners and Papua New Guineans “who kept the lights on through a difficult period.”
“Minister Maru has my full support. Papua New Guineans deserve reliable power at a price they can afford, and the NEC-approved PPL Turnaround Plan will continue,” he said.
Minister Maru outlined the financial position and reform priorities and said, “I am taking over an insolvent company with debts of K1.2 billion, and people owe us K400 million. That is the true position of this company. We will need a court-agreed scheme of settlement to repay the debt,” he said.
He announced plans for partial privatization of profitable units and a review of Independent Power Producer (IPP) agreements.
“My job is to continue, but reset the direction with the belief this company will one day be a multi-billion kina company,” he said.
Minister Maru called on staff, the Board and management to cut losses and collaborate.
“If we work together to cut the losses, we can drive new investments that will take this economy forward. Let’s manage costs and bring in fresh capital to build a PNG Power we can all be proud of,” he said.