With Papua New Guinea’s leading provider, Nasfund, smallholder growers who provide Oil Palm to New Britain Palm now have the chance to save for retirement.In accordance with the Fund’s Eda Supa product, an initial 700 smallholders have now signed up for these superannuation contributions under the arrangement - which was facilitated by NBPOL.To celebrate ...

Following a stringent process, the Tari Piwa Poultry Farm has achieved the leading global accreditation for food safety and quality, as accredited by the Hazard analysis and critical control points, or HACCP. This is a global certification for quality and safety, including for storage, slaughter, processing and the sales and marketing of poultry products....

The effects of COVID-19 on impact revenue will continue until 2021. According to the projections done in the 2021 Budget Paper Strategy (BPS) by the Department of Treasury, the loss in business income will still manifest in reduced corporate income tax earnings in 2021 as filings for 2020 assessable year become payable in 2021.The document further predict...

In the midst of the current political instability in Papua New Guinea, Australia’s Prime Minister Scott Morrison has cancelled his trip. This comes after high profile ministers led by Deputy Prime Minister Sam Basil have defected to the opposition led by Belden Namah. PNG’s Foreign Affairs Minister Patrick Pruaitch and Attorney-General David Steven also c...

After 12 high-ranking government ministers led by Deputy Prime Minister Sam Basil defected to the opposition, current Prime Minister James Marape, is facing a leadership threat. This comes a day after the passing of the Independent Commission Against Corruption Bill and a week before the schedule of handing down of the 2021 budget. These officials mention...

As part of the government’s medium-term plan to reach its vision of going rural, Prime Minister James Marape has recently launched the K2.3 billion agriculture medium-term development plan 2020-2022 which took a year to plan and design.The Agriculture Department and the Department of National Planning and Monitoring worked on this development plan.Accordi...

In spite of leaving the European Union, parliament has convened to unanimously continue trading with the United Kingdom. In a vote of 97-0, parliament voted to waive section 117(3) of the Constitution that has bound PNG to trade with the UK under the EU.Section 117(3) would be ratified for PNG to trade with the UK under the UK and Pacific interim economic...

Chinese company Fujian Zhonghong Fishery Ltd has signed a Memorandum of Understanding valued at US$150 million (K527.20mil) for the industrial park for marine resources in the Western region. The Company also wants to put up a marine industrial zone. According to Fisheries and Marine Resources Minister Dr Lino Tom, the investor would work with the Nationa...

To discuss the reopening of the Porgera Mine, the Porgera Landowners Association (PLOA) Negotiating Committee met with Barrick Chief Executive Officer Mark Bristow and Senior Vice President and Head of Corporate Affairs of Asia Pacific, Woo Lee in Port Moresby.While the Barrick team has been in Port Moresby for a month already, the PLOA Negotiating Commit...

To combat corruption, the Papua New Guinea parliament has passed legislation which establishes an Independent Commission Against Corruption (ICAC).In 2015, constitutional establishments to establish an ICAC were passed but efforts to take this into full force lapsed - until the Marape government took over last year.According to Police Minister Bryan Krame...

The largest container vessels in Papua New Guinea have already made its maiden call to Shanghai.The 2,750 teu Lae Chief and two sister vessels equipped with three 45 tonne cranes which can carry breakbulk, out-of-gauge, reefers and vehicle cargoes is now sailing to Lae, Port Moresby and Townsville.“This is a proud moment for Swire Shipping, not only becau...

Left to right; Chairman Charles Vee, Julienne Leka-Maliaki; Doris Gedare Julienne Leka-Maliaki and Doris Gedare join Nasfund board, the former to the Board of Trustees National Superannuation Fund Limited while the latter as Board Secretary. Leka-Mallaki replaces former director Hulala Tokome as an Independent Director. Leka-Mallaki has over 26 years of e...

The government of West Sepik has rejected the proposal of PanAust, the developer of the US$7 billion (K24.4bil) Frieda River project, to construct a tailings dam at the headwaters of the Sepik River, administrator Conrad Tilau says. This, in spite of the fact that the project is expected to create many jobs.Mineral Resources Authority (MRA) managing direc...

St. Barbara's Simberi gold mine in New Ireland are going back to mine material that was previously not economically feasible due to the current price of gold This was revealed by general manager Jason Robertson, who added that the mine was presently investigating a transition from the processing of oxide ore to sulphide ore, where sulphide ore previously ...

The pandemic has caused big losses, including the revenue loss of around K70 million due to the closure of international borders. According to the Tourism, Arts, and Culture Minister Walter Schnaubelt, the tourism industry has been affected in a huge way. He added that the government had been putting capital into small-and-medium enterprises (SME) to weat...

In the restructuring and reorganisation of Air Niugini, the Asian Development Bank (ADB) will fund K100 million.Treasurer Ian Ling-Stuckey said the task of recovery would take a bit longer and be more difficult for this airline which is slowly starting to continue its domestic and international flights after the 8-month lockdown. He added that some state-...

In transforming all state-owned companies, the Asian Development Bank (ADB) has granted the government K1.75 billion. Minister for Treasury Ian Ling-Stuckey said that this is beneficial in transforming the enterprises into high performance and quality organisations.“This program encompasses all SOEs. It will bolster their financial and technical capacitie...

Deputy Prime Minister and Minister for National Planning Sam Basil and Energy Minister William Onglo, with representatives from government, landowners, and Oil Search after the briefing.In light of the need for sustainable energy, the Marape-Basil government has supported the PNG Biomass Project.According to the Deputy Prime Minister and National Planning...

Kingston Resources just passed to the Conservation and Environment Protection Authority an environment inception report (EIR) in connection with the Misma gold project in Milne Bay, marking the beginning of the environment permitting process of the project. “We are very excited to be taking the first steps down the environment approvals pathway for our Mi...

Mayur Resources Limited has finished independent test work, confirming the production of quality quicklime at it's Central Cement and Lime (CCL) project.Managing director Paul Mulder said that the ability of Mayur to come out with low impurity and high-grade quicklime supported the market appeal of the project. “The Central Cement and Lime Project not onl...

Because local landowners are claiming billions of kina in compensation amidst talks with Kumul Mineral Holdings Limited (KMHL), Barrick Niugini Limited (BNL), and the state, the world-class Porgera mine in Enga Province may not reopen yet. According to Prime Minister James Marape and Minister for Mining Johnson Tuke, the mine may reopen in due time. Earl...

On November 5, ANZ opened its new corporate centre in Goroka. Managing director, Mark Baker, said the new centre services its institutional and corporate clients in Eastern Highlands Province, putting special emphasis on the coffee export industry of the PNG. He also highlighted how Goroka has been at the height of the coffee export industry for decades, ...

As part of quarantine measures, foreigners travelling to Papua New Guinea will need to wear ankle monitors which will cost them $US28, according to Pandemic Response director, Daoni Esorom.Esorom said Response Controller David Manning approved this exercise and will be tested for a month."The controller approved the engagement of TrackCo to track them whi...

More than 100 officials - trade officials, regional agencies and other international organizations - across the Pacific nations attended a virtual E-commerce regional workshop.This workshop, which was part of the E-commerce initiative, talked about the importance of E-commerce and its benefits to the economies. The workshop also explored the state-of-play...