Watching the developments of Kumul Holdings and IPBC

By K.S. Punduari

Major Restructure – Only One Person will own special Share and VETO POWER over the 7.5 million people’s Resources and their State Owned Enterprises.

Petromin, IPBC and other State Owned Enterprises to be merged and all powers will be transferred to 3 Kumul Holdings and Only One Person will have SPECIAL SHARE and VETO POWER to control it.

The article on Sunday Chronicle about the major restructure can not be read unseen. Although the idea about the major restructure seems appealing, it may result in totalitarian control now or in the long run. And also peoples’ powers and resources concentrated into a single body to manipulate may easily give raise to a dictatorship. 

It may seem like merging a large system will make it easy for only few people to control it but it could also result in inefficiency and unproductively. Who knows, the result might be a single point of failure.

I know that Prime Minister Peter O’Neill has good motives behind this new restructure but we must also foresee what could possibly happen if people with negative motive get into power.  It’s the country’s resources and its investment through its business arms that give its economy power.

 If one person controls it then he controls everything.  However, it’s obvious for a true patriot of this beloved Nation to see that there is no room for totalitarian and dictatorship type of government in this Nation of Nations.

Finally but not the least, how could a Prime Minister, the servant of the Nation who has sworn an oath to serve the interest of this Nation with its 7.5 million people merge the country’s resource and State Owned Enterprises and then buy shares in it again? 

This will result in conflict of interest as the prime minister will now try to run the country has its own business while trying to serve the interest of the people. Obviously, in this scenario, business will take precedence.  

AS a leader of this beautiful Nation with its 7.5 million people, the most sensible and humble thing to do is to buy shares for the 7.5 million people of this Nation so they too can become financial share holders of their resources and State Owned Enterprises. 

 How can the 7.5 million people benefit from shares owned by serving prime minister and former prime ministers? The prime minister should be a servant serving the interest of the people not owning shares out of the people’s resources and State owned enterprises.

This country is dying of a true servant leader. True Leaders are leaders who gave up their own life for the common good of humanity. These are individuals who gave up their personal dreams, businesses, families, qualifications, jobs, etc, for what they believe will benefit their people.

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