Papua New Guinea's Prime Minister has announced the government's 50 percent equity stake in the national airline will be up for sale by the end of the year.
Peter O'Neill told the Australia-Papua New Guinea Business Council this week that the Government had already received interest in its equity in Air Niugini from investment organisations and development partners.
Mr O'Neill says the preference will be first given to PNG-owned entities but will be available to other investors if those entities do not take up all the options.
He says selling the stake in the national airline is part of the Government's move to restructure State-owned entities.
The National reports the government will be doing its first privatisation and restructuring programme of Air Niugini at end of the year and if it is successful, it will then look at other State-owned entities like PNG Power and PNG Ports.
Papua New Guinea Prime Minister Peter O’Neill (right) with Ian Clarke, Past President, Australia PNG Business Council. Photo: Supplied
Air Niugini, Papua New Guinea Photo: RNZI
