• PNG Business News

Businesses Are Looking Forward to the Revival of the Economy

An official said that all businesses are looking forward to the growth of the economy.

According to PNG Ports Corporation Ltd (PNGPCL) managing director Fego Kiniafa, their business was solely dependent on exporters and importers, and the availability of foreign exchange for trading to happen.

“PNGPCL is hopeful that the economy registers a positive growth and we are ready to facilitate that growth through our network of ports,” he said. “All businesses are looking forward to the economy picking up as businesses adjust and learn to adopt and operate within the confines of the Covid-19 pandemic restrictions.”

He, however, declined to reveal the annual turnover of the company.

“In terms of the annual turnover, that is a confidential matter that can only be released with appropriate approval from the board and shareholders,” he said.

Business experts noted that the economy was contracting. Economy experts have also appealed to the government to approve one of the multi-billion kina projects such as the Wafi-Golpu and the Papua LNG, and the reopening of the Porgera gold mine.

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