Posts From Editor

Fisheries Minister declares signing of Trade Protocol Agreement with China a success

Dr Lino Tom, Papua New Guinea’s Fisheries Minister, described the signing of the Trade Protocol Agreement with China as a success. The agreement relates to the export of Live Marine Products to the Chinese market, and the signing took place during the Fisheries Sector’s trip to China. The minister added that the trip to China, with Prime Minister James Marape, was also successful. Minister Tom said, “We successfully signed the

Nasfund CEO explains price rises are the result of reliance on imports

Ian Tarutia, the chief executive officer of the National Superannuation Fund (Nasfund), has explained that one of the factors behind the rising prices of goods and products in Papua New Guinea is the country’s reliance on imports. He said that it was simply a matter of supply and demand and that recently, PNG had been unable to import enough goods from abroad. “There is a supply chain, goods that are

Power Supply To The Highlands Region Restored

Power supply from the Ramu Hydropower Station into Kundiawa, Minj, Banz, Mt Hagen, Ialibu, Mendi and Wabag was fully restored by 2.30pm this afternoon. Restoration time took longer than expected due to bad weather conditions and challenges on site however the team managed to ensure power supply was fully restored after 7 days. Tower 101 at Dumum Village in Chimbu Province was brought down to the ground by fallen trees

Industry players spend over K1 billion on National Content Program

The President of the PNG Business Council, Nuni Kulu, has said that corporations, companies, and industry players have spent over K1 billion annually on national content. Local participation in national content is one of the main policy agendas of Papua New Guinea’s government, and businesses have been supportive in wanting to see local industries grow. “From a combined industry standpoint, over K1 billion is spent annually on various national content,”

PacTow Celebrates ISO Certifications

Marine Services company Pacific Towing (PacTow) is celebrating three recent and significant ISO certifications – ISO:9001 (Quality), ISO:45001 (Occupational Health & Safety), and ISO:14001 (Environment).  The certifications apply to the diverse breadth of services the company provides to clients across multiple industries in both Papua New Guinea and internationally. The ‘scope’ of PacTow’s ISO certifications is extensive, encompassing towage, mooring, salvage, commercial diving, and life raft services.  Although harbour towage

PNG’s economy expected to grow in 2022

According to PNG National Budget estimates, the economy will grow by 5.4 per cent in real terms in 2022. This follows a slower 2021, which saw an estimated real GDP growth of about 1.3 to 1.5 per cent. The Government’s 5.4 per cent growth prediction is underpinned by significant public infrastructure expenditure. There is potential upside from election-related spending, but there’s also risk from new strains or resurgences of Covid

Significant rise in foreign exchange receipts

Robin Fleming, the CEO of Bank South Pacific Financial Group Ltd (BSP), has said that Papua New Guinea has recently seen a significant inflow of Foreign Exchange (FX) currency. According to Mr Fleming, at the end of 2021, FX receipts increased from K9.21 billion to K10.175 billion in the final quarter. This amounts to a rise of K965 million or 10.5%. He said the increase was due to end-of-year dividend

Mombi complements the EU for EU-STREIT PNG Program

Acting Secretary of Agriculture and Livestock, Stephen Mombi, has praised the European Union for its sponsorship of the EU-STREIT PNG Programme. Mombi made his comments at the Geographical Indication (GI) Awareness Conference in Port Moresby, which the PNG Investment Promotion Authority hosted in collaboration with the EU-funded UN Joint STREIT Program. The programme, which focuses on the Sepik Region, aims to develop sustainable agri-food value chains and promote the fair

OTML Appoints Females to Management Roles

Ok Tedi Mining Limited (OTML) has announced the appointment of four females to various management roles within the Company as part of its Vision 2025 to increase the number of females in leadership roles. These includes Ani Topurua who was appointed to the newly created role of Manager Social and Sustainability, Carolyne Manahave as Manager Contracts and Legal, Lyndah Brown as Manager Process Asset Renewal (PAR) Project Interface, and Chantel

New Ireland Chamber says upgrading PNG ports will produce jobs

The Australian Government has granted Papua New Guinea AU$580 million to rebuild and upgrade its ports (roughly K1.48 billion). The State Enterprise Minister, William Duma, stated K66.4 million was already earmarked for Kavieng Port. The New Ireland Chamber of Commerce and Industry president, Nolis Thomas, said the initiative would create local jobs and boost New Ireland’s export earnings. Mr Thomas said, “Just by having the project here will provide employment