By Gina Maka’a 

Chairlady of the Solomon Islands Chamber of Commerce and Industries (SICCI) Naomi Kaluae has called for urgent legislative reforms to reduce electricity costs for businesses. 

During the SICCI-Prime Minister’s breakfast yesterday, Kaluae emphasized the crucial need for legislative reform, highlighting how these changes are essential for progress and development. 

She shared insights from a recent survey examining the impact of high electricity costs on SICCI member businesses. 

She said the survey revealed that a staggering 80-85% of members have experienced revenue losses and decreased productivity due to soaring electricity costs..

Kaluae stated the key findings from the survey include:

• 60% of businesses struggle to meet client deadlines.
• 83% reported that high operational costs hinder their ability to thrive.

“Given these challenges, we strongly recommend prompt intervention in the form of legislative reforms, and allowing for Independent Power Production could be a significant step toward alleviating the financial strain on our businesses.”

Kaluae emphasized that these reforms could foster a thriving business landscape that supports local enterprises and champions the principles of local content. 

She also acknowledged the challenges and opportunities presented by an ever-evolving global marketplace driven by innovation and technology.

“Cooperation and communication between the government and the business community are crucial as we navigate these changes,” she said.

She stressed the importance of regulatory frameworks that promote growth while safeguarding national interests.

Responding to these concerns, Prime Minister Jeremiah Manele assured attendees that the government is committed to aggressively pursuing reforms in the energy sector. 

“We can transform this country if we are united in our efforts to build our future,” he said.

He highlighted the need to separate the roles of the regulator and service provider to eliminate conflicts of interest that interfere with the transition to renewable energy and competitive pricing.

Manele added that the government aims to work with Solomon Islands Power to reduce electricity tariffs by 25% by 2027.

This year’s SICCI Prime Minister’s breakfast event, themed “Catalyzing Economic Growth through an Empowered Private Sector,” focused on creating an enabling environment for local businesses to thrive.