Prime Minister James Marape unveiled the Ihu special economic zone (Isez) in Kikori, Gulf, as part of the district's other impact projects. Soroi Eoe, Kikori MP and Foreign Affairs and Trade Minister, Michael Nali, Works Minister Michael Nali with his department secretary David Wereh, William Samb, Central Governor Robert Agarobe, and Gulf Governor Chr...

The Porgera Chamber of Commerce has welcomed Prime Minister James Marape's announcement that the Porgera mine in Enga Province will reopen. President of the Chamber, Nickson Pakea, praised the Prime Minister for announcing the reopening of the Porgera mine with a "far superior offer" than the previous 31 years from 1989 to 2021. Pakea praised the PM...

The Internal Revenue Commission's (IRC) Commissioner General, Sam Koim, said that the IRC will advise the government on lowering the Salaries and Wages Tax (SWT) if they raise enough revenue through the successful collection, especially through the Goods and Services Tax (GST). Koim said that they would make the recommendation until the National Govern...

The Wafi-Golpu Mine in Morobe Province is the next big mineral project on the Government's agenda, according to Mining Minister Johnston Tuke. Minister Tuke said that the project would be funded by the end of the current legislative session. Mining Minister Johnston Tuke declared on April 9 that the Wafi-Golpu Mine Special Mining Lease (SML) will be...

Barrick Niugini Limited and the Government of Papua New Guinea have reached an agreement on a binding framework agreement, the first step in the process to reopen the Porgera Mine. The agreement was signed at Government House by Barrick Chief Executive Mark Bristow, Governor-General Sir Bob Dadae, and Mining Minister Hon Johnson Tuke on behalf of the S...

Independent Power Producers (IPPs) in Papua New Guinea have expressed concern about PNG Power Limited's (PPL) unilateral analysis and renegotiation of existing contracts and contractually agreed rates to supply power to the grid. The task of IPPs, according to David Burbidge, Chair of the IP3 Industry Group for Independent Power Producers, is to collab...

According to the Bank of PNG (BPNG), the average regular kina exchange rate has depreciated against all major currencies except the Japanese yen as of March 8.  The kina depreciated by 8.1 per cent against the Australian dollar, 7.5 per cent against the British pound sterling, 2.8 per cent against the Euro, and 0.9 per cent against the US dollar, accor...

According to the Bank of PNG's (BPNG) jobs index, structured private sector employment fell by 5.5 per cent in the September quarter of 2020, relative to a 1.3 per cent growth in the June quarter of 2020. This was recently illustrated in BPNG's quarterly economic bulletin for the September quarter. BPNG Governor Loi Bakani said that jobs dropped by ...

Governments in some coffee-producing countries have struggled to provide facilities that encourage the cultivation and processing of high-quality coffee. Strategies for improving coffee production and processing in Papua New Guinea: Lessons from the top five coffee-producing countries, a report by the PNG National Research Institute (NRI), highlighted ...

If the planned takeover of Westpac's Pacific company is authorised, Kina Bank said the new bank would have a new name and would be independent of Kina to increase banking sector competitiveness and consumer preference. Kina's plan, according to Chief Executive Officer Greg Pawson, is to establish a new-branded bank for the nation that is independent an...

If COVID-19 cases continue to rise, the government is considering a lockdown from the new Isolation Strategy. People are not listening or complying with the Niupla Pasin policies, according to Rainbo Paita, the Leader of Government Business. As a result, Cabinet has had to take drastic measures to save lives. “Another main factor is because people a...

The reopening of the Porgera Gold Mine at the earliest, according to the Porgera Mining and Allied Workers Union (PMAWU), is good news. This comes after the PNG government announced that Barrick Niugini Limited would ink a new deal for the reopening of the Porgera Gold Mine. The PMAWU Executives said in a statement that those directly affected have ...

Treasurer Ian Ling-Stuckey has started talks with the Asian Development Bank (ADB) on the goals for the ADB's $US2.2 billion in funding over the next four years. After a virtual meeting with ADB country director David Hill, the treasurer said the Marape Government needed to continue its emphasis on the war on coronavirus while also developing the found...

According to Oil Search, oil prices have risen steadily in recent months from the initial effect of the Covid-19 last year, when prices ranged about US$43 (K150) per barrel of oil (bbl), to levels above US$60/bbl (K210) since February this year. In response to questions, a group spokesperson said,“ To date, there has been no impact to production in our...

The Lae Chamber of Commerce and Industry (LCCI) said it welcomes any power plan that is long-term, environmentally friendly and creates jobs in the delivery of efficient, low-cost electricity in Lae and Morobe. President John Byrne referred to concerns regarding the PNG Biomass project in the province's Markham Valley when he said, “PNG Biomass has pro...

With the outstanding amount of government debt owed to the sector, pending landowner fees, and rising law and order woes, businesses are concerned about 2022. According to Chey Scovell, chief executive officer of the PNG Manufacturers Board, conversations within the business community revealed that the government owed companies more than K2 billion. ...