Minister Maru Reveals Alarming Statistics on Graduate Unemployment Status in PNG

Minister Maru speaking during the SME awards night

The Minister for Trade and Industry, Honourable Richard Maru revealed an alarming statistics on unemployment especially the young graduates from colleges. Minister Maru revealed that about 66% of the young graduates that live colleges in PNG have no jobs which he strongly stressed is unacceptable for a country richly blessed with natural resources.

The Minister revealed the statistics during the first Small Medium Enterprise Leadership Awards held in Port Moresby on the 30^th of July this year.

The Inaugural awards nights hosted by International Banking and Business Management (IBBM) recognises PNG business and landowner companies that made significant achievement in variety of areas in business. The assessment was based on the eight global best business practices: governance and organization, business management, finance management, human resource management, asset and inventory control, safety, health and environment, quality control and reputation and image.

Minister Maru’s revelations come as surprise in a time when PNG is has been enjoying a consistent economic growth over the last 9 years due to high commodity prices, particularly the mineral sector that experience record high growth over the years.

The growth of the economy is not trouble free as it is also accompanied by a booming population and uncontrollable rural to urban migration.  The risk of exhausting the mineral and liquefied gas reserves is highly likely if PNG do not take drastic measures to control its population boom.

The O’Neil Dion Government which Mr. Maru described as responsible government has taken way forward steps to build a sustainable economy by creating an economic stimulus package that is anticipated to reduce the interest rate of SME loans from National Development Bank from 15% to 6.5%. The recapitalization of eighty million kina was well publicized in media.

Quick action is required to arrest these employment crises as it possesses greater threat to the economy of the country.

PNG being a strong culture based society, with deeply embedded beliefs and values in traditional way of thinking and living, possess yet another challenge to the leaders to create a harmonious society where the citizens live in freely with fear and intimidation and to equally participate in economic activities.