Chamber calls for CUC’s privatization

The Saipan Chamber of Commerce presented to Gov. Ralph DLG Torres and Lt. Gov. Victor B. Hocog yesterday an eight-point Economic Development Roadmap with privatizing the Commonwealth Utilities Corp., strengthening the tourism industry, and labor issues part of a plan that would help steer the Commonwealth toward the right direction.

Financial services, land issues/zoning/infrastructure, environment, investment, and government operations are the other things highlighted on the EDR, which is the Chamber’s way of reaching “all those affected by economic instability in the [CNMI].”

The EDR is also the Chamber board of directors’ “attempt to engage public and private leadership with the mutually beneficial goal of a more productive and sustainable local economy.”

“The Chamber has decided to pursue the recommendations herein over the course of this Chamber administration with the help and partnership of the CNMI government and other private sector groups,” the EDR’s introduction read.

Tourism, services, construction, gaming, and the government are the CNMI’s only industries that the Commonwealth is relying for revenues.

Federal and local legislation, revenue laws and regulations, and local tax corporate and individual rebate structure are the things that built the CNMI economy. “This remains much the same today but what avails itself of the Commonwealth’s ‘formula’ has changed dramatically,” the financial services part of the report noted.

Businesses “must be able to rely upon sound and reliable financial governance, unwavering tax structure, and sound financial institutions,” the report added. The CNMI should look into import protections, preparing for accountancy training and certification to compensate for loss of CW accountants, and providing small businesses with capital to start or to grow.

The report is also suggesting that CUC should be privatized so it would give the chance to future developers to build larger complexes and install their own power production. “Focus on power distribution rather than production by supporting Independent Power Production,”

Protecting current employment, however, must be considered in allowing private companies or corporations in taking over some government functions and agencies. “Privatization will eliminate excessive waste while providing services at a more reasonable cost and making service providers accountable to profiting shareholders.”

Operations of solid waste management is another area the Chamber report noted should be privatized since universal trash collection would help reduce illegal dumping sites and littering both in public and private lands.

“The current transfer station and landfill are not working efficiently. There are insufficient funds to fix pumps. Privatizing these operations would encourage private companies to build additional transfer stations and facilities.”