In encouraging transparency within the government, the ICT sector and to comply with their policy and legislative measures, Information and Communication Technology Minister Timothy Masiu said that he wants his department organised. He said that to deliver ICT services that are cost-effective, reliable and affordable, his department must listen to the sta...

Contributors to National Superannuation Fund, Nasfund, are reminded to update their membership details to ensure important information such as member contact details, address, and more importantly, member beneficiaries are included and are current.Nasfund Chief Officer Member Services Anne Wilson made this call when outlining the Fund’s Member Service eng...

To finance its National Budget for 2021, repay its debts, and stabilise the economy, Japan has provided a K1 billion concessional loan to Papua New Guinea. Japan is also giving K32 Million grant for the PNG electrification partnership as agreed with the United States, Japan, New Zealand, and Australia. According to Japanese ambassador Kuniyuki Nakahara, t...

In launching the new Jiwaka provincial headquarters at Kurumul, Papua New Guinea Prime Minister Hon. James Marape has emphasized the need for technically-skilled people.PM Marape said that the government will be elevating and upgrading the Tombil Vocational Centre into a fully-fledged Technical Vocational Education Training (TVET) college.“Our country is ...

The government of Papua New Guinea will spend K9 million to clean the toxic remains left by developer Niugini Gold Ltd. at the Sinivit mine in East New Britain. According to Environment, Conservation and Climate Change Minister Wera Mori, the firm left in 2014 without informing the government, claiming that the latter failed to renew its license. Mori sai...

After a landowner group has said that the Autonomous Bougainville Government has partnered with Caballus Mining, a firm based in Perth, to re-open Panguna Mina, its president, Ishmael Toroama has announced that the government is not colluding with any landowner groups or mining firms. “The idea of Caballus operating a mine on Bougainville has long been sh...

A decision on the environmental permit for the Frieda River copper and gold project in West Sepik is yet to be made.Environment, Conservation and Climate Change Minister Wera Mori said that the granting of the permit is not yet finished. “Frieda River is an ongoing project – meaning that PanAust, which has got the licence, is still conducting exploration,...

The Internal Revenue Commission (IRC) has unveiled its yearly work plan in Port Moresby.According to IRC Commissioner Sam Koim, the plan which outlines seven key strategic pillars contains a vision to transform the organisation into a modern, robust, and efficient tax administration by 2025. These seven key strategic pillars include data-driven, fostering...

The power outages in Port Moresby may end in March.This was according to PNG Power Limited managing director Flagon Bekker who said that they are working on the transformer at the Port Moresby grid because they couldn’t bring in a new one. He added that bringing in an expert for the tap changer may not be possible for this time. “We don’t have the person ...

To improve the trade capacity of Pacific countries, the Pacific Island Forum Secretariat (PIFS) and the European Union (EU) have signed a project titled “Strengthening Pacific Intra-Regional and International Trade (SPIRIT)”. The project is set to cost EUR 5.75 million.Aimed at increasing and boosting intra-regional and international trade through strengt...

Because of its focus on performance, capital and cost allocation, Oil Search has resulted in a firm production. Managing director Keiran Wulff said the developments of Oil Search had regained momentum with the passing of the government in Parliament the remaining amendments to Acts for Papua LNG fiscal stability.He said that assurance reviews for the Pikk...

With the construction of the Wafi-Golpu copper and gold project in Morobe about to start because of its environmental permit, Papua New Guinea hopes to see a windfall of over K18 billion investment in its economy. Constructed by developers Harmony Gold Mining Company, this project is expected to cost at K17.26 million.“At this time when our economy is con...

In a recent survey conducted by the Pacific Trade Invest network, it has revealed that the pandemic continues to impact small businesses. Newly appointed Trade Commissioner of the Pacific Trade Invest New Zealand office, Glynis Miller said that “the results are not surprising as they do reflect real challenges faced by a large majority of SMEs.”According ...

In dealing with the power outages, PNG Power Ltd managing director Flagon Bekker said to either live with these blackouts or invest “hundreds of millions of (US) dollars”. “I personally believe the people of PNG are going to need to choose: start investing in the power system or live with blackouts that will get worse and worse,” he said. “There is no eas...

With the increased costs of minerals, Bank of PNG Governor Loi Bakani said that exporters should take advantage of these favourable costs at a time when the pandemic is still ravaging the country. “Mineral prices increased, with those for copper and nickel driven by a pick-up in growth in China,” he said. “Precious metal increased by 16.5 per cent, with ...

While many new manufacturing entrants haven't met the required industry standards which can be a setback for the industry, Manufacturers Council of PNG chief executive officer Chey Scovell believed that the industry may recover this year. According to him, many entrants lack The Hazard Analysis and Critical Control Points (HACCP) equivalents which is a fo...

To support local farmers to encourage them to take part in cash cropping, extension services in agriculture into rural areas must take place.This was according to the Department of Agriculture and Livestock (DAL) Minister John Simon who said that the country needs 400 agriculture extension officers.“Many farmers are trying their best to sustain their farm...

To recognise the efforts of the company to provide employment, workforce development, and business opportunities, the PNG LNG project’s best national content contribution of the Year award went to the Hides Gas Development Company Ltd energy services. According to ExxonMobil PNG Ltd’s national content manager Sisa Kini, “We are proud of HGDC Energy Servic...

The round log export tax was a failed policy.According to Forestry Industry Association president Bob Tate, the current tax regime (50.2 per cent) had affected businesses which resulted in a decline of US$83 million (K288.42mil) from January to November in 2020.In 2020, royalty payment to landowners also saw a decline of K16 million because of the decreas...

Compared with the revenue of K2.86 billion generated yearly, state-owned entities (SOEs) are valued at around K10 billion.According to Isikeli Taureka, the managing director of Kumul Consolidated Holdings Ltd, this amount shows that SOEs are not doing well in coming up with revenues. “Our value of the portfolio is K4.4 billion and in terms of dividends la...

To bring capital into the business, PNG Power Limited, along with Kumul Consolidated Holdings and other shareholders, are reviewing all their options. Managing director Flagon Bekker said that this will be based on the cost of capital and getting the best deals available.“It will allow the broadening and deepening of the PNG financial sector, showing that...

If properly developed, the energy sector of Papua New Guinea is worth around US$1.2 billion (K4.2bil). According to the outgoing Energy Minister William Onglo, some countries are dependent on wind for power generation while others for thermal and some, for water. “I’ve seen that its potential is too huge and this industry can be a US$1.2 billion ind...

International Operations Manager, Captain Marcelo Santini, brings with him 35+ years maritime experience from South America including valuable oil and gas expertise.Pacific Towing – the Marine Services division of Steamships Limited – has added an International Operations Manager to its team. Captain Marcelo Santini will help ‘PacTow’ take advantage of in...

Jeremy Norton has been appointed the chief operating officer for the Capital Insurance Group (CIG) of companies.According to group chairman Michael Koisen, Norton had a strong background and expertise with more than 20 years in the industry and has extensive knowledge in both life and general insurance overseas and locally. Previously, Norton had worked a...