The people of East New Britain Province may see the redevelopment of the once iconic Rabaul town if the current Moratorium is reviewed next year. Prime Minister James Marape said this when responding questions raised by Rabaul MP Graham Piniau in parliament recently. Mr Piniau said the township of Rabaul still has a lot of potential to develop and brin...

The Shadow Minister for Treasury, Douglas Tomuriesa has that stressed that the Government’s Relief Assistance Package of K590 million is inadequate and translates to a mere of K65 per person, per year or a very meaningless of 18 Toea per day when divided by the 9 million people of PNG. He said that when highlighting the inefficiency of the Treasurer, I...

Photo: James Marape Prime Minister Hon. James Marape has reminded heads of Government departments and agencies to submit their annual reports by March 31, 2023, to show what they have achieved in 2022. Marape said that this would ensure timely and regular checks and balances on government departments and agencies. “All heads of Government departm...

One of the Country's biggest alcohol manufacturers and producers, Vitis Industries Ltd has appealed to the Marape-Rosso Government to review the decision made to increase alcohol tax to almost 500 per cent. Vitis Industries Ltd Managing Director Vicky Mossine said the tax increase will affect the business negatively and would eventually result in the d...

The new United States Embassy in Port Moresby was officially opened recently when Prime Minister James Marape and US Under Secretary of State for Management, Ambassador John Bass cut the ribbon into the new complex. US State Department said the $US250 million or over K800 million project is a symbol of their commitment to supporting democracy, prosperity ...

The quality of the conduct and management of elections in Papua New Guinea has deteriorated in the 2022 national elections. This was revealed in an elections observers report presented by Transparency International Papua New Guinea (TIPNG) last week at the election seminar in Port Moresby. TIPNG was among other observers engaged to observe the 2022 nat...

The Investment Promotion Authority is calling on business houses, corporate organisations, small and medium enterprises and the general public, to look out for new changes in the display and content of its newly launched online registry service as it undergoes transition. In addressing participants at the PNG Mining and Petroleum Conference in Sydney A...

Photo: From right to left Dr Kishti Sen Senior Economist of ANZ, middle IRC Commissioner Sam Koim and Dirctor Corporate Affairs Total E&P PNG Limited Richard Kassman The Port Moresby Chamber of Commerce and Industry (POM CCI) in conjunction with Deloitte PNG had its Annual Budget Breakfast meeting to discuss the 2023 National Government Budget at t...

Photo credit: ADB The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help Papua New Guinea’s (PNG) state-owned enterprises (SOEs) deliver high-quality, affordable services through Subprogram 3 of the ADB-supported SOE Reform Program. Subprogram 3 supports PNG’s efforts to improve the operational performance and financi...

Photo: Hon. Kerenga Kua - Minister for Petroleum The second day of the 16th PNG Mining and Petroleum Investment Conference and Exhibition had its focus on project updates from some of PNGs biggest resource companies. Operator of the multi-billion Kina PNG LNG project, ExxonMobil PNGs Scott Sandlin, Senior Vice President of Production – focused his u...

Photo credit: K92 Mining K92 Mining is pleased to announce that the Government of Papua New Guinea has granted an extension of Mining Lease 150 for the Kainantu Gold Mine in Papua New Guinea for a period of 10 years to June 13, 2034. Concurrent with this announcement, K92’s Board of Directors have approved the Stage 3 and Stage 4 Expansions (collect...

Photo: OTML General Manager and Chief Financial Officer Cameron Clark speaking at the PNG Mining and Petroleum Investment Conference The Ok Tedi Mine will generate over PGK19 Billion in dividends for the benefit of Papua New Guinea over the next 11 years, says Ok Tedi Mining Ltd (OTML) General Manager Commercial and Chief Financial Officer Cameron Clar...

Photo: President of the PNG Chamber of Mines and Petroleum Mr Anthony Smaré President of the PNG Chamber of Mines and Petroleum Mr Anthony Smaré in his opening address to delegates at the 16th PNG Mining and Petroleum Investment Conference and Exhibition says international investment has had a catalysing impact on PNG’s economic development. The cha...

Photo: Minister for International Trade and Investment, Hon. Richard Maru Papua New Guinea (PNG) is ready to commence the feasibility study on a proposed free trade agreement with the People’s Republic of China. This study has been in the pipeline for some time and finally, with the grant funding of K1 million from the Chinese Government to the PNG Nat...

The inaugural Joint Trade and Investment Committee Meeting between the Philippines and Papua New Guinea will take place in Manila in January 2023. The purpose of the conference is to talk about measures to increase and diversify commercial and investment ties between the two nations. On the sidelines of the APEC meetings in Bangkok, Thailand, Alfred...

Due to its strategic position, Singapore is eager to host the Papua New Guinea Trade and Investment Roadshow the next year, where PNG can promote all the potential it can provide to Singapore and the Asia area. At a meeting on the sidelines of the APEC Summit in Bangkok, Thailand, the Minister for International Trade and Investment, Richard Maru, made ...

A Memorandum of Cooperation on a Joint Crediting Mechanism (JCM) was signed by Papua New Guinea (PNG) and Japan on the sidelines of the 27th Climate Conference of the United Nations (COP 27) in Egypt. The Government of Japan created the Joint Crediting Mechanism, a new project-based bilateral offset crediting system, to make it easier to adopt cutting-...

A proposal to establish an honorary consul in Vietnam’s capital city of Hanoi has been discussed in a bilateral meeting between Papua New Guinea and Vietnam’s Foreign Ministers. Foreign Affairs Minister Justin Tkatchenko met with his Vietnamese counterpart Bui Thanh Son during the APEC Summit in Bangkok, Thailand. Vietnam is a fast growing economy w...

Discussions are underway to establish a sister-city initiative between Papua New Guinea's Capital Port Moresby and Da Nang city in Vietnam. This was agreed to in a bilateral meeting between Foreign Affairs Minister Justin Tkatchenko and Vietnam’s Foreign Minister Bui Thanh Son during the APEC Summit in Bangkok, Thailand. PNG Minister Tkatchenko, who...

Following the government's Budget 2023 proposal to hike corporation tax from 30% to 45%, Kina Bank is abandoning all of its plans to grow by opening additional offices nationally. Greg Pawson, the chief executive of Kina, stated that the bank was against any rise in corporate tax on the banking industry. “To put into perspective, it is an additional...

Photo: Richard Maru. Credit: Richard Maru Facebook Page Richard Maru, the minister of foreign trade and investment, says he is eager to promote trade and investment with Indonesia. “Our people go to the border to trade with Indonesia. There is big trade happening there, but our two governments have not made the time to enter into a formal trade and ...

Prime Minister Hon. James Marape says the Commission of Inquiry (COI) into the K722 million Sale and Purchase of Motukea Wharf in Port Moresby is part of the Government’s efforts to ensure that processes and procedures that are in place are observed in such major transactions. He also announced that the Government had taken steps to enforce recommendat...

PNG Customs services and Bank of Papua New Guinea today launched a Joint initiative cross border movement currency valuables form (CMCV) in Port Moresby, it is a mandatory document for all international travelers that will be implemented starting on the 1st of December, PNG Customs ramped up its services and have developed a standard operating procedur...

Photo: Deputy Prime Minister John Rosso  Deputy Prime Minister John Rosso has said that the 2023 National Budget will focus on law and order to ensure confidence in economic development activities. Mr Rosso who is also the Lands and Physical Planning Minister further hinted during grievances debate in Parliament. He said the budget will also focu...