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PNG Needs more Competition in the Energy Sector : ICCC

The Papua New Guinea Independent Consumer and Competition Commission (ICCC) says policy intervention in any business sector in the country will not work out if there is no competition in the market.

ICCC Commissioner, Paulus Ain says Energy Sector has great potential to become a significant catalyst for a better economy.

However, he says the sector needs more competition in the market to boost the economy.

The country is currently facing a fuel shortage with Puma Energy’s monopoly over the fuel market due to a lack of access to foreign exchange.

In an exclusive interview with NBC News, the ICCC Commissioner, Paulus Ain highlighted the low outcome of the policy decision by the government seemed to be not working.

However, he says the energy sector has great potential to attract new investors into the market if there is competition.

The ICCC's role in regulating the energy sector has now changed and the role was taken over by the National Energy Authority.

Mr. Ain says the energy potential in the country was huge prior to the changes in the amendment of the Act.

He says during the ICCC’s term, several amendments were made and licenses issued to the competitors in the electricity generation and transmission distribution space. 

Mr. Ain described the government’s policy intervention as failed.

NBC News / PNG Today 

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