Papua New Guinea should have a strong team for negotiations at the World Trade Organization when it comes to the standards of the country in relation to trading with others. This is according to the National Institute of Standards and Industrial Technology (Nisit).Director-general Victor Gabi said that the multilateral trading systems among countries sho...

Papua New Guinea needs a proper standard pathway for companies. This is because businesses who trade internationally get blacklisted quite often because of safety and health breaches, according to Manufacturer’s council chief executive officer Chey Scovell, as not everyone understands standards. The problem, he said, that except for the major manufacturer...

In 2020-2021, Australia will make contributions to the official development assistance (ODA) in the amount of K3.5 billion ($1.44 billion). The Australian High Commission said that this is an increase from $1,381.4 billion (approximately $1.4 billion) in 2019-20, adding that Australia will provide the same levels of ODA compared to the previous year.Accor...

Developed under the Marape government, the Department of Works Connect PNG Policy 2020-2040 guides the development of vital road links in the country which aims to connect communities across PNG for an increase to untapped economic potential, especially for SMEs and agriculture. This project highlights road transport as the dominant road in the PNG and as...

According to Nasfund Contributors Savings and Loans (NCSL) Chairman Ian Tarutia, banking is its next step. He said that he is currently gathering requirements to see how they could venture into that next step, adding that Papua New Guinea had only four commercial banks providing opportunities for other operators. “We have actually engaged a feasibility s...

Launched in 2015, the Ramu 2 hydropower project is one of the biggest impact projects for both the people of the Eastern Highlands and Morobe provinces. This, according to Mining Minister and Kainantu MP Johnson Tuke.He said, “Ramu 2 is a power project which the government has done its feasibility studies with a decision made by the National Executive Cou...

PNG Chamber of Mines and Petroleum Vice President Richard Kassman together with local representatives from Deloitte, the Business Council of PNG and the Institute of National Affairs stressed the importance of Papua New Guinea’s resources sector to the economy and community following the call on the government to review its proposed Organic Law into an ag...

Peter Graham has tendered his resignation to Prime Minister James Marape. The Chairman and acting managing director of the Kumul Minerals Holdings Limited (KMHL) and former managing director of Ok Tedi Mining Limited and ExxonMobil PNG is returning home to Australia. He has worked for 15 years in the country’s mineral and oil & gas industries. “I have...

Growing the number of skilled workers in the country means growing Papua New Guinea’s Technical Vocational Education and Training (TVET) sector. This was an initiative by Australia and Papua New Guinea through the Comprehensive Strategic and Economic Partnership which was signed during the virtual summit leaders of Prime Ministers James Marape and Scott M...

After submitting its 2018 audit results, PNG Air says that it can continue trading on the PNG National Stock Exchange (PNGX). According to Chief Executive Anthony Pereira, the company has already passed to PNGX its 2017 report. “2017 audited accounts were signed off today (Tuesday) and a copy was handed over to PNGX Markets while 2018 is expected to be si...

In January 2021, the City Pharmacy group of companies welcomes Navin Raju as group CEO. Raju will replace Sir Mahesh Patel as the latter will focus on his duties as the CPL Foundation Chairman and will remain on board as a non-executive director. According to CPL Group Chairman Stan Joyce, who announced the appointment, Mr. Raju is the perfect fit to take...

To continue the development and construction of the Lae-Nadzab four-lane road in the province of Lae Morobe, the government has allocated K19 million. This news is according to Deputy Prime Minister and Minister for National Planning and Monitoring and Member for Bulolo Sam Basil who added that the funding has already been made to the contractor, China Ra...

According to the Kina Bank, investment from resource projects is a prerequisite to medium-term economic growth in PNG. Its mid-year outlook has noted that the estimate of the International Monetary Fund would shrink by 4.9 per cent this year. “PNG, by comparison, is expecting a relatively modest 2 per cent fall in the real gross domestic product (GDP),” t...

According to an economist, many of the Pacific Island countries that rely much on tourism such as Vanuatu and Fiji have been hit hard by the pandemic. Institute of National Affairs Executive Director Paul Barker said the pandemic had caused PNG a major drop in commodity prices such as gas and copper, adding that the government had been “in a severe budget...

The Gobe Haus which was a K26.5 million investment by the Mineral Resources Development Company (MDRC) has brought assets to the company in PNG and the Pacific to a total of K6 billion. According to MRDC board chairman Isaac Lupari, MMDRC’s most recent development was the three-storey office building in Top Town. Deputy Prime Minister Sam Basil expressed ...

The year 2021 will witness Papua New Guinea revealing all agreements related to oil and gas, and mining. This, according to the Head of PNGEITI National Secretariat Mr. Lucas Alkan, who added that all contracts and MOUs signed between two parties next year are required to be disclosed to the public. “The current practice in Papua New Guinea is that once t...