Photo: Secretary Dr. Nelson Simbiken The Department of Agriculture and Livestock (DAL) is set to launch its 2023-2027 corporate plan this month, according to acting Secretary Dr. Nelson Simbiken. This plan will aim to drive the sector forward and for the first time, DAL is also upgrading its information and communication technology (ICT) systems. Dr...

Prime Minister Hon. James Marape says Puma Energy has said they replied to Bank of Papua New Guinea’s (BPNG) 13 queries in relation to supply of foreign exchange (FX), but is still in court in a BPNG initiated court proceeding. He said this resulted in Puma stopping its supply of aviation gasoline to Air Niugini, because it could not get the required F...

Photo credit: Department of Foreign Affairs and Trade The Australian Government have been vibrant in providing economic and employment opportunities for locals in the Autonomous Region of Bougainville through its Papua New Guinea-Australia Transport Sector Support Program (TSSP) and their Community Work Arrangements for the past three years. Support...

First elected member for the Newly created electorate Hiri Koiari in the Central Province, Keith Iduhu launched the District's Five Year Development plan recently at the Apec Haus. Government Representatives and distinguished guests led by the Prime Minister were present to attend the launching ceremony. Mr Iduhu stated in his speech that he had promis...

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...

Prime Minister James Marape recently stated that the Country has over K12 Billion in Foreign Reserves sitting in the Bank of Papua New Guinea which is the highest Foreign Reserve for the country ever. Marape said this is the Fiscal Policy intervention that the Government is concerned with and the power to make interventions on foreign exchange remains wit...

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 ...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook Page The Minister for International Trade and Investment, Hon. Richard Maru who is the Minister responsible for the capital market of Papua New Guinea along with its regulator the Securities Commission of Papua New Guinea (SCPNG) said the capital markert will see maj...

Photo: PM Marape Prime Minister Hon. James Marape has welcomed the decision by Bank of Papua New Guinea (BPNG) to issue a provisional license to the Teacher’s Savings and Loans Society (TISA) to set up a fully-fledged commercial banking operation in PNG. “We would like a local bank with share offering to ordinary Papua New Guineans, mothers and fath...

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 ...

Photo: PNG Treasurer Ian Ling-Stuckey and ADB Country Director for Papua New Guinea David Hill  Credit: ADB in the Pacific Facebook Page The Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) recently signed loan and grant agreements amounting to more than $66 million to help improve the country’s technical and vocational educati...

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 Asian Development Bank (ADB) and the Government of Papua New Guinea (PNG) recently signed two loans to fund improvements to air services in PNG. Minister for Treasury Ian Ling-Stuckey and ADB Country Director for PNG David Hill participated in the signing ceremony. “This innovative program will help boost economic and social development in PNG,”...

Photo: Project cargo specialist, Steamships Logistics Division, has a fleet of nearly 30 ships, tugs, and barges, more than 200 trucking assets, as well as an expanse of machinery and equipment. It employs more than 1,700 staff (98 % PNG nationals). Papua New Guinea’s oldest business group, Steamships Trading Company Ltd, has invested millions in its L...

Photo: PNG Chamber of Mines and Petroleum President Anthony Smaré addressing delegates at the opening of the 16th PNG Mining and Petroleum Investment Conference and Exhibition in Sydney, Australia. President of the PNG Chamber of Mines and Petroleum, Mr Anthony Smaré during the 16th PNG Mining and Petroleum Investment Conference and Exhibition, acknowl...

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 ...

The Government will be advertising the position of Chief Executive Officer (CEO) for the Special Economic Zones Authority in the new year, 2023. Minister for Trade and International Relations Richard Maru announced this last week. Minister Maru said the position will be advertised globally as the government wants the best to develop the Special Economi...

Minister for International Trade and Investment, Hon Richard Maru led a team of experts from the Japan Development Institute (JDI) as well as local consultants on a tour to visit East Sepik Province especially on all proposed agricultural hubs on Friday last week. The team of experts were given a helicopter tour of the province starting at Wewak, over ...

Photo: Ilimo Dairy Farm. Credit: LR Group There is a need to build two more dairy farms in the country since Papua New Guinea is still importing around K300 million worth of milk products into the country. Minister for International Trade Relations and Investment, Richard Maru said this when emphasizing on the need to bring in more investors into the c...

Photo credit: NEA The National Energy Authority (NEA) will soon establish a new office complex following their groundbreaking ceremony in Port Moresby last Friday. The new office complex will be built at the cost of K150 million through a partnership between the National Energy Authority and the Australia New Guinea Services. Present to officiate th...

Photo credit: RNZ Prime Minister Hon. James Marape has launched his government’s policy on coffee which includes a target of 2,500 trees per family that aims to return interest to one of Papua New Guinea’s leading commodities that once was the highest agriculture revenue earner in the country. The Prime Minister announced this in Banz, Jiwaka Provin...

Photo credit: Malum Nalu Oil Palm Industry Corporation is embarking on building and developing a 60,000 Oil Palm Seedling Nursery at Erap in the Markham Valley of the Morobe Province to supply seedlings to local smallholder growers in the Markham Valley and Ramu Valley. General Secretary for OPIC, Mr Kepson Pupita recently was at the Department of A...

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...