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The Independent Consumer and Competition Commission (ICCC) is worried about the Climate Change and Development Authority's (CCDA) proposed new carbon levies or extra excise duties. The ICCC expressed its reservations in a recent media release, stating that there has been a lack of substantive meetings with the impacted sectors on the issue, as well as ...

The Port Moresby Chamber of Commerce and Industry has asked the government to pay over K100 million in unpaid dues to its members in order to help them develop their businesses. Stacey O'Nea, the Chamber's chief executive officer, stated that they are not after free handouts or a stimulus budget for companies; rather, they want what is owed to them to ...

On Tuesday, May 4, 2021, Papua New Guinea Prime Minister James Marape will formally start the vaccine roll-out in the country at the APEC House in Port Moresby. Government ministers, regional governors, and dignitaries, including delegates from PNG's foreign partners, are scheduled to attend the presentation, which begins at 10 a.m. David Manning, P...

A Papua New Guinea transparency group wants the government to reveal more information on how the Covid-19 solution is funded. With over 10,000 cases and 100 deaths, Papua New Guinea has become the Pacific nation worst affected by the pandemic, but the real tally is estimated to be much higher due to poor testing speeds. At this time, there have been...

The Ok Tedi Development Foundation (OTDF) has unveiled its five-year strategic business strategy for the years 2021-2025. The strategy aims to realign the company's policies and services to meet practical goals. This aligns with OTDF's goal of empowering the Western Province's Community Mine Continuation Agreement (CMCA) societies and related bodies...

The Australian government will contribute K190 million to the Connect PNG road project. The funds will be used to construct the Trans-Island Highway, which will link Momase to the Southern and Highlands regions. The Australian government has decided to fund the PNG government's transportation program, according to Minister for Treasury Ian Ling-Stuc...

Link PNG and PNG Air have reported that they have reapplied to the ICCC for Link PNG to buy a minority stake in PNG Air. PNG Air and Link PNG also agree that ICCC acceptance would help Papua New Guineans and visitors. The planned joint venture between Link PNG and MRDC is focused on PNG Air being an independent airline, setting its own airfares and ...

The Asian Development Bank (ADB) has been thanked by the Prime Minister for its long and constructive support for PNG's development. PNG's main multilateral financing partner, the ADB, has been active in the country's growth for 50 years. Prime Minister James Marape, Treasurer Ian Ling-Stuckey, Finance Minister John Pundari, Works Minister Michael N...

According to the Independent Consumer and Competition Commission, Trafigura Group has filed an application for approval for a potential purchase of an additional interest in Puma Energy Group (ICCC). On a public note, Trafigura's commissioner and chief executive officer Paulus Ain stated that Trafigura was already the largest shareholder in Puma and th...

Negotiations between Twinza Oil Ltd and the Papua New Guinea government are likely to proceed, according to an economist, but refusing to change conditions at the last minute sends a disappointing message to international investors. Marcel Schroder, an economist with the Asian Development Bank's macroeconomic analysis division, was referring to the gov...

Treasurer Ian Ling Stuckey told Parliament that K5.7 billion was spent as part of an economic recovery plan on "the economic battle." He explained that the money was not solely spending on COVID-19 and that the government had invested K2.5 billion in COVID-19 bonds and K1.5 billion in friendly international assistance. Mr Ling-Stuckey said K600 mill...

A government official is worried that the country will suffer significant consequences as a result of the foreign trade restrictions. The decline in domestic demand, according to acting chief trade officer Richard Yakam, has already been felt. Yakam praised the government for announcing the reopening of the Porgera mine but added that the other majo...

Passengers leaving internationally on Air Niugini will now be expected to take a 45-minute COVID-19 test prior to check-in. The airline said in a statement that the new provision, which went into effect recently would affect all passengers flying to Australia, as well as Singapore, Hong Kong, Manila, and all other foreign destinations served by Air Niu...

To combat the economic impact of the coronavirus pandemic, Treasurer Ian Ling-Stuckey is exploring additional funding for small and medium businesses. “This latest and very severe wave of COVID-19 is having very serious impacts across all of Papua New Guinean society,” he said. “We are not only fighting it to save precious lives, but we are also trying...

Minister Michael Nali said the Department of Works is managing 250 existing contracts worth K4 billion, but that budget is insufficient to see all of them through to completion. He said this number comes from workers hired by the government, but it may be higher. He was speaking at a road opening in Lae last week. “That number of contractors is wort...

Commodity prices are expected to remain low leading to large losses of exports for Papua New Guinea further adding to a dim global and domestic scenario amid a second wave of the covid-19 pandemic. This is despite the fact, commodity prices for PNG’s exports recovered in the third quarter of 2020 in response to an acceleration of industry activity glob...

More and more women are venturing into fields predominantly held by men as PNG’s formal economy grows, hence increasing the need to widen the safety lens and address aspects of women’s safety that have typically received very little attention. The Gender Smart Safety (GSS) training program offered by the Business Coalition for Women (BCFW), is an innovati...

At its General Meeting on April 15th in Port Moresby, Kina Securities Limited (KSL) shareholders unanimously voted in favour of Kina Bank's takeover of Westpac PNG and Westpac Fiji. CEO Greg Pawson said in a statement that the shareholders' vote of confidence was "amazing." “We are very excited about this opportunity, and creating a stronger and mor...