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Institute of National Affairs (INA) executive director Paul Barker said that the government must implement measures to provide jobs, boost the economy and improve revenue. This also includes paying off debt. He also added that what is needed in this economy are some public sector reform and expenditure control, saying that the budget must zero in on prior...

Deputy Head of PNGEITI National Secretariat Christopher Tabel stressed on the importance of ensuring contract transparency and systematic reporting is built into transparency mechanisms in contracts and MoAs. The recent participation of the PNG Extractive Industries Transparency Initiative (PNGEITI) in the week-long review of the Woodlark Mining Project ...

According to Kumul Consolidated Holdings Limited (KCHL), the government will sell off its companies that are not making money. These include Datec, EMTV and FM100.KCHL managing director Isikeli Taureka said that the National Executive Council (NEC) had already approved of this sale. “EMTV and FM100 are all up for sale because they are not going to bring i...

New Zealander Aaron Underdown has replaced Moses Liu as the managing director of National Development Bank after six years in his position.Underdown joined NDB in March as the group executive manager risk and compliance (chief risk officer) and served for 25 years as a senior risk professional in different fields - property and asset finance, agriculture ...

Because Australia has pledged to provide economic assistance of A$596 million in the year 2020/21 and has agreed to suspend interest and principal repayments for the US$300 million concessional loan given last November 2019, Treasurer Ian Ling-Stuckey has expressed his gratitude for their strong support for the people of PNG. In addition, Australia is pro...

Particular areas in the laws on resources projects should guarantee that the State, investors and the people benefit, said Petroleum Minister Kerengua Kua. According to Kua, the laws need to be reformed so that the government should not have to borrow to finance commercial projects. He mentioned that previously the state had given 100 per cent ownership t...

Following the opening of its gas plant outside Port Moresby recently, NiuPower, a joint venture between Kumul Petroleum Holdings and Oil Search Ltd. has been supplying power to the area since November, according to chief executive officer Michael Uiari.He said that power supply is enough in the city but more investments are needed for distribution and tra...

In response to business news making allegations against his past business work, Autonomous Bougainville Government President Ishmael Toroama says that any foreign investment is done according to the Bougainville Inward Investment Act 2014.“This act regulates all investment into Bougainville and parties wishing to bring investors into Bougainville must abi...

The frequent blackouts in PNG are caused by technical challenges. This was revealed by PNG Power Limited Managing Director Flagon Bekker who said that the blackouts are attributed to the challenges of PNG Power’s (PPL’s) ageing infrastructure, in addition to an ongoing transition.He said, “PNG Power acknowledges that this is not an acceptable level of per...

In partnership with Cathay Pacific Airways, Air Niugini will resume its operations between Port Moresby and Hong Kong. In a statement, Air Niugini said that it will use it's Boeing 767 aircraft to operate its service. At the onset, flights will operate at least once a week every Wednesday. The code-sharing with Cathay Pacific, as well as with Air France, ...

In response to the announcement made by Investment Promotion Authority (IPA) managing director Clarence Host of the proposed amendments to the IPA Act (1992), the Independent Consumer and Competition Commission (ICCC) has welcomed these changes. According to ICCC commissioner and chief executive officer Paulus Ain, many businesses across the country are o...

Because of the poor work quality, the second phase of the multi-million kina Lae Port Tidal Basin has been suspended. According to State Enterprises Minister Sasindra Muthuvel, they will now move on to the third phase. “The third phase has now being brought in as the second phase is said to be the Huon Industrial hub or the Lae Tidal hub,” he said. “They ...

Papua New Guinea’s Labour Laws are outdated and need reviewing. This, according to Labour and Industrial Minister Lekwa Gure, who said that these reforms are on top of his agenda.Among the laws that need reviewing include the Industrial Relations Act, the Employment Act, the Industrial Organisations Act and others that are now subject to a review by respo...

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...