Search Results: 2022

Photo credit: Internal Revenue Commission PNG - Revenue Haus in Port Moresby The Internal Revenue Commission has collected a record revenue of K15 billion for the public purse this year, according to Prime Minister, James Marape. In a media statement PM Marape has commended the management and staff of Internal Revenue Commission (IRC) for being an e...

Photo credit: Zijin Mining. Aerial view of the Porgera gold mine The Prime Minister recently responded to the press statement that was published by the Deputy Opposition Leader in relation to the reopening of the Porgera Mine. “The Deputy Opposition Leader has never sat down at the table with any project stake holders to negotiate a way forward for ...

Prime Minister, Hon. James Marape met with the officials from the Bank of China on Wednesday, December 21, 2022, and welcomed their plans to extend their Representative Office license which they obtained from the Bank of Papua New Guinea (BPNG). PM Marape has also encouraged the Bank of China to apply for a full commercial banking license from BPNG to ...

Economic growth in the Pacific will rebound in 2022–2023, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM) launched today. Growth for the subregion is projected to be 5.3% in 2022 and 4.8% in 2023, partly fueled by stronger-than-expected tourism activity in Fiji and a recovery in Papua New Guinea’s mine...

The Papua New Guinea Chamber of Mines and Petroleum has announced that it is considering a name change to PNG Chamber of Resource and Energy (PNG Core) to better reflect the change in the commodities produced by the sector in PNG. PNG Chamber of Mines and Petroleum President Anthony Smaré made this announcement during the 16th Mining and Petroleum Inve...

Photo: A haul truck being loaded with ore at the Ok Tedi mine. Ok Tedi Mining Limited (OTML) recently announced that a dividend of PGK300 Million will be paid to shareholders on or before 31 December 2022. OTML Chairman Dr Roger Higgins thanked employees, contract partners and mine impacted communities for their support throughout 2022. He added ...

Opposition Leader Joseph Lelang stated that the 2023 Budget has not done enough to cover the Papua New Guinea economy against unfavorable global developments. Mr Lelang said the opposition sees that much of these adverse external developments since 2019 has contributed to shortages in foreign exchange, forced businesses to fold or streamline their oper...

Photo: Mayur Resources Managing Director, Mr Paul Mulder. Credit: Mayur Resources Facebook Page Mayur Resources Limited and Santos Ventures Pty Ltd (Santos), a subsidiary of Santos Limited, have extended their exclusivity arrangements to jointly develop a portfolio of nature-based carbon offset projects in Papua New Guinea (Carbon Projects). Mayur h...

The opening remarks by President Mr Anthony Smaré, paved the way for strong discussions on bilateral trade, development of the PNG economy, riding off the back of PNG’s trading partners in Australia and the Asian region, as well as a push for more direct investment in the resource and renewable energy sector. A sector that is of growing importance as the ...

The Papua New Guinea Tourism Promotion Authority hosted its first Implementation Steering Committee Meeting for the recently launched Tourism Sector Development Plan 2022-2026 on the 29th June 2022, at the Lamana Hotel in Port Moresby. The Chief Executive Officer Mr. Eric Mossman Uvovo, chaired the inaugural meeting in the presence of 16 organisation r...

Tourism, Arts, and Culture Minister Isi Henry Leonard claims that the National Cultural Commission (NCC) cannot reasonably promote Papua New Guinea's tourism industry. “We have to work in partnership with provincial governments at the national level to develop the industry,” he added. Leonard stated that the government was, therefore, signing MOU wi...

Photo credit: Santos - Brett Darley PNG will continue to be a major focus of strategy as Santos works to decarbonize operations, according to the upstream chief of Santos. Santos president of Upstream Oil and Gas, Brett Darley, stated that Santos is still eager to keep that region as its primary investment priority. “More broadly as a company, Sa...

Photo: Sandeep Biswas According to the International Energy Agency, copper is essential for additional solar PV, wind, bioenergy, networks, electric vehicles (EVs), and battery storage in the field of clean energy solutions. According to Sandeep Biswas, managing director and chief executive officer of Newcrest Mining Limited, the International Energ...

The connect PNG program implemented by the government is said to be rejected by the people of Central Province. Governor for Central Province, Rufina Peter announced the issue and raised this concern in parliament last week. Governor Peter said the road project is essential but will have consequences faced by Central Province Communities such as land grab...

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...

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...