The Opposition has called the recent State sale of the Motor Vehicle Insurance Limited (MVIL) Shares in the BSP Financial Group Limited (BSP) to the Mineral Resources Development Company (MRDC) as an unfair concentration of national wealth. The Member for Sinasina-Yongamugl and outspoken Opposition strong man, Kerenga Kua, said this is because the MVIL Shares now with the MRDC, is now owned by few resource provinces. “As we know, MRDC is predominately owned by only a very few resource provinces. These few resources provinces are already benefiting immensely from resource projects in their areas. Mr. Kua said they have between them shared several billions of kinas since 2014, compared to the rest of the majority of the provinces in Papua New Guinea (PNG). “On top of that the Minister (State- owned Enterprise Minister, William Duma) now sees it fit to take away property which benefits the entire nation and then put it again in the hands of those few provinces who are already benefiting from unequal and inequitable share of national resources,” said Mr. Kua. “How can we call that a fair and inequitable distribution of the national wealth which is one of our ‘National Goals and Directive Principles’ in our Constitution, when it comes to the exploitation of our natural resources?” “There are considerations that mature and responsible leaders must take into account because it impacts upon the cohesiveness and unity of our nation, and its long- term survival and sustainability.” He stressed that when dealing with the nation’s wealth, leaders must always factor into their consideration the impact of their distributions on the maintenance of national unity and cohesiveness. Meanwhile, the Opposition has made a strong call to the Prime Minister to immediately establish a Commission of Inquiry (COI) to look into the sale of the MVIL Shares to the MRDC, calling also for a freeze on the proceeds of the sale.

Prime Minister (PM) James Marape has announced that the government will strongly defend its position following a surprise ex parte court order obtained by former Kumul Petroleum Holdings Limited (KPHL) Chairman, saying that the position of Chairman is not for just one person. The Board of KPHL had successfully obtained a court order to stay the implementation of recent purported board appointments by Instruments of Appointment that were signed off by the company’s Trustee Shareholder, Prime Minister Marape. The stay, issued by the Chief Justice Sir Gibbs Salika in the National Court, halts the purported appointment of Gerea Aopi as Chairman of KPHL, along with the purported appointments of George Gware, Jacob Anga, and Sundaram Srinivasan as directors. Marape said the former KPHL Chairman, Dr Benedict Yaru, who served for more than two terms—amounting to nine years—reportedly applied for the interim order in the absence of representation from the State or trustee shareholder. “This matter was taken to court in secret, without notifying the State or giving us the opportunity to be represented. An ex parte order was obtained, and we were only made aware after the fact,” Prime Minister Marape said. “It must be noted that most of the outgoing board members had already served two full terms—the legal maximum of eight years. In fact, Dr Yaru served nine years. One member had also surpassed the compulsory retirement age of 72.” Marape further stressed that KPHL Board positions are not personal entitlements and must be refreshed regularly to ensure continued accountability and oversight. Dr. Yaru said the Board respects the Kumul Trustee’s prerogative to appoint or remove directors from the Board, but emphasized the need to uphold sound governance principles, and gave the board’s commitment to cooperate in that regard. “We believe the appointments did not follow the correct procedure. Our board has a responsibility to protect the governance and integrity of the company and the reputation we have built in the international oil, LNG and financial market.” “KPHL has already commenced discussions with top tier international counterparties to market its own share of LNG from the Papua Gas Project and to raise its share of financing for that project which amounts to around US$1.5 Billion. So, it is especially critical at this time to maintain stability and to encourage a smooth transition, given the fact that the Papua Project aims to take FID in December 2025.” “The stay order creates the opportunity for the Kumul Trustee and the current board to move forward via the usual consultative dialogue that will ensure that any and all nominees are processed in compliance with the qualifications and “fit and proper” requirements, as well as the processes prescribed by the KPHLA Act and so similarly for any removals,” said Dr. Yaru. However, the prime minister on the other hand explained that the changes to the KPHL Board were made following due process and in accordance with legal guidance from the State Solicitor. “The advice we received confirmed that a vacancy existed, and that the trustee shareholder—the Prime Minister—is legally empowered to appoint a new board. These appointments were necessary to restore proper governance oversight at Kumul Petroleum,” PM Marape said. “The KPHL Board is not owned by any one individual. Leadership must be rotated to bring in new perspectives and strengthen scrutiny of management.” He also defended the appointment of Mr. Gerea Aopi as the new KPHL Chairman, describing him as a seasoned leader in the oil and gas sector. “Mr. Aopi is a highly respected Papua New Guinean with a distinguished record in both the public and private sectors. He knows the oil and gas industry, understands the strategic importance of Kumul Petroleum, and is well placed to guide its future growth.” Prime Minister Marape concluded by stating that the Government will not be distracted by attempts to undermine the reform process at KPHL. Meanwhile, the Court Order will allow the current board to continue managing the company’s affairs while the legal matter proceeds in court to conclusion. In the meantime, the Board will work with the Kumul Trustee to ensure a smooth transition in the Board appointments.

The unity and cooperation of policing in the pacific region was represented this morning at the inaugural Pacific Police Band Tattoo 2025, showcasing a brilliant performance and display of police bands in union at the Sir Hubert Murray Stadium in Port Moresby city. As expected by the crowd that gathered this morning at the stadium, the event did not disappoint. Full of brilliantly decorated police ceremonial uniforms and the sound of the thumbing and beating of the drums beautifully in rhythm with the trumpets and bagpipes along with some humor, the overall performance was amazing, keeping the crowd entertained right through out. Acting Prime Minister John Rosso was the most pleased and took time to thank the police forces from the pacific for participating in this inaugural event. On behalf of the Government of Papua New Guinea (PNG) Rosso extended his warmest welcome and heart felt thank you to all the police bands, performers and guests who have made this inaugural Pacific Police Tattoo such an outstanding success. “This morning, we witnessed exceptional performances. Each one delivered with precision, discipline and a touch of humor that has brought great joy to this memorable occasion.” “But what we have seen today is much more than a display of music and ceremony, it is a powerful symbol of the unity that binds us as a family, ‘yumi olgeta wanpla solwara tasol’.” He said through discipline, culture and shared purpose, the pacific police forces have shown common value and shared commitment to peace and security in the region. “To the Chief of Police from across the pacific, thank you for your support and for championing this inaugural Tattoo.” “Your presence and participation send a strong and clear message that together, we are stronger. Cooperation is the key to resilience, progress and safer pacific for all our people.” He further thanked the supporting teams from the pacific police bands for delivering a high-quality performance coinciding with PNG’s 50th Independence Anniversary, which makes it even more significant. Police Commissioner David Manning echoed the Rosso’s words, saying the Tattoo marks the first-time police bands from across the pacific region coming together in one coordinated display of regional solidarity. “It’s indeed a moment of pride for us all and especially for PNG 50 years since our nation’s independence. This Tattoo takes place during our Golden Jubilee, makes it all more special,” said Commissioner Manning. “I extend my deep thanks to our traditional security partner for continued support in delivering this historic event.” “It’s support such as this that shows the strength of our pacific policing family, our shared history and our shared region.” Meanwhile, in the presentation of awards to the top performing police band, four awards were given. 1.       Best Drill Display award, 2.       Fan Favorite award, 3.       Spirit of the Tattoo award, and 4.       Overall Performance award. The Royal Papua New Guinea Constabulary band took the Best Drill Display award, the Royal Samoa Police Band took the Fan Favorite award while the Fiji Police Band took the Spirit of the Tattoo, and the Royal Tonga Police Band took home the Overall Performance award. Police bands from Solomon Islands, Fiji, Samoa, Tonga, Nauru, New Zealand and Australia along with PNG participated in the inaugural Pacific Police Band Tattoo 2025.

The Opposition is making a strong call to the Prime Minister to immediately establish a Commission of Inquiry (COI) to look into the recent sale of the Motor Vehicle Insurance Limited (MVIL) shares in BSP, calling also for a freeze on the proceeds of the sale. In a press conference this afternoon at the Dream Inn in Port Moresby city, the Member for Sinesine Yongomugl and outspoken Opposition member, Kerenga Kua describe the sale of MVIL shares in BSP Financial Group Limited to the Mineral Resource Development Company (MRDC) as a State sponsored crime. He continues to stress that the State does not have shareholding in the MVIL and has been illegally getting dividend from it for years. Instead, the shares in MVIL belong the motor vehicle owners. “The first question is whether the State beneficially owns all the shares in MVIL, or it owns the share in trust for the beneficiaries of the Trust?” “To act like a shareholder, and to claim dividends from a company without ever beneficially owning any shares in that company is tantamount to fraud and theft. It is a crime. It is normal to claim dividends only after you have purchased shares in that subject company as a beneficial shareholder.” “Until the question of whether the State owns shares in MVIL in its own beneficial interest or as Trustee on behalf of the beneficiaries of the trust, is a question which must be answered by an independent and competent authority.” He said the State cannot act like a beneficial shareholder and claim dividends for its own benefit from MVIL. “All the previous dividends claimed and received by the State are illegal and liable to recovery by the beneficiaries of the Trust in the future. The beneficiaries are the past and present owners of motor vehicles in PNG.” He said the proper thing to do now at this point is to park the proceeds of the sale of the shares by MVIL in an escrow account immediately and the proceeds of the sale must not be spent on any State sponsored activities as mentioned by the Minister for State Enterprises, William Duma. “I call upon BSP, if it is the bank, to independently freeze the account where the proceeds of the sale are banked. The same call goes to any other banks in which the proceeds of the sale are presently held,” Kua said. “This is because there is serious case of bank or banks knowingly (after this notice) endorsing a case of money laundering here. Kua said, "This is now a matter of public concern and publicly articulated and I am sure all the banks including BSP are aware of the controversies surrounding the legality of the share transactions." “A bank cannot properly and responsibly take a risk of transacting on those accounts whilst the controversy remains unresolved through an independent and competent authority such as a Commission of Inquiry under the Commission of Inquiry Act, or through the Courts in a civil action.” “This may also include any investigation to be conducted by other State authorities like the Ombudsman Commission, the Independent Commission against Corruption, and the police.”

The Opposition is calling on the national government to sort out this matter of outstanding payments for the Koiari Landowners (LO) still owed to them as per the agreements and promises made by the State. This call comes following a sit in protest by the landowners at Rouna today in Central province, demanding that the State pays them for use of their resource, which is the water used for the hydro power and water supply to Port Moresby city residents and business houses. Opposition Leader Douglas Tomuriesa in a press conference this afternoon in Port Moresby city, calls for an amicable solution to this matter. “I sympathize with the Koiari landowners. Past governments and present the government have promised the landowners and especially at this time, the government has promised K15 million, and they are still waiting for the payment,” said the Opposition Leader. “When you look at it, the Koiari landowners have been very patient with governments, and we have used their resources to run this city (Port Moresby).” He said the landowners have come to this point because the promise is not kept and also, they are just fed-up already with what is happening. “They see a lot of money being paid out in other resource sectors to landowners, to provincial governments, to districts, but the Koiaris have not seen their share.” Despite their protest and threats to disrupt power and water supply to Port Moresby, Tomuriesa asks the government to be realistic and fair when dealing with them. “We have to be fair with the landowners of Koiari. In the last forty (40), fifty (50) years or so, that hydro power station has supplied power and water to this city, yet you go up to Koiari, there is nothing to show for it.” “We need to give them what we promised them,” he said, adding that the State should not do things on ad hoc basis but stick to the agreement. He said the Opposition wants to see this matter resolved in a peaceful manner and soon. “I think it needs to be sorted out and from the Opposition, if we have to go up to talk to them and sit down and hear them out so that we can come back and talk to the government, we are willing to do that.”

Recent reports of law-and-order issues like the destruction of a bridge in Porgera Paiela in Enga province allegedly by supporters of a by election candidate and the attacks on the public in Port Moresby city last evening after the PNG Story celebrations, highlights the need for a serious approach to curbing the increase in crime in the country. Earlier during the week, the Opposition team held an important press conference at the Dream Inn in Port Moresby city and these very issues in law and order were raised among other things that they say are not being fully addressed by the National Government, especially when we are about to mark the 50th Independence Anniversary. Opposition Leader, Douglas Tomuriesa plainly stated that it is time the government put down its foot and fully address this serious matter that is hindering service delivery, development and impacting the communities who have had to deal with law-and-order issues. “We have seen killing after killing almost every day, you cannot deny it. Our women have been victimized; our older people have been bullied everywhere in this country,” said the Opposition Leader. “You can see that what’s happening in the country is beginning to become very sickening and it clearly tells us that our country can be regarded as a sick nation because the people don’t respect the rule of law, and when you don’t respect the rule of law, how can you respect other forms of development in this nation?" Mr. Tomuriesa said the country is going through a lot of struggles. “We are not only financially and economically struggling, we are not only struggling with the lack of infrastructure development in this country, but we’ve also gone to the point that social standards a beginning to be very low.” “I look at us turning 50 in the next couple of months and what is there for us to celebrate for this 50-years jubilee celebration?” he questioned. “Are our people going to go out there and celebrate 50th independence anniversary freely? Are our people going to go out there and celebrate knowing that law and order issues are a thing of the past or are our people going to go out there and find themselves defending themselves, trying to protect their families, and protect their communities at the same time celebrating 50 years of independence.” He stated as well that the idea of seeking assistant from PNG’s bilateral partners in providing police assistance to curbing the increase crime is viable, supporting the continuous call from Governor for Enga Sir Peter Ipatas for foreign assistance. Tomuriesa said if PNG cannot handle this law-and-order matter, it is time for the National Government to admit that it is unable to handle it and call for foreign assistance.

The seventy (70) per cent (%) Motor Vehicle Insurance Limited (MVIL) shares in BSP sold by the State was purchased by the Mineral Resources Development Company (MRDC), a Papua New Guinean buyer and not a foreign investor as speculated following the announcement recently. This was revealed by the Minister for State Enterprises, William Duma this week, putting it out there for the public and business community to know and easing some concerns that were raised regarding the future of the MVIL and its ownership. “Ownership of these shares in BSP remains within our country, giving the opportunity for everyday Papua New Guineans to own part of BSP,” stated the minister. “The sale has provided much needed funding to enhance State Owned Enterprise as part of reforms to modernize technology and service delivery without having to rely upon allocations form the national budget and expensive borrowings from banks requesting State guarantees. More specifically, more of the proceeds of the sale will be used to invest in improving the reliability and efficiency of services provided by PNG Power Ltd and Water PNG Ltd mainly in Port Moresby and Lae.” He went on to say that decision of the National Government is timely. “This decision is properly timed and grounded in economic prudence. It further takes into consideration the investment principles in KCH (Kumul Consolidated Holdings) Strategic Asset Allocation in terms of exposure and the Marape- Rosso Government’s vision to re- invest in the infrastructure asset stock of the country towards doubling GDP over the next 10 years.” However, the Opposition on the other hand is calling this transaction illegal. The Member for Sine- sine Yongomugl and Opposition member, Kerenga Kua, explained that this purchase should not be the case because the MVIL should not be classified as a State-owned Enterprise, giving the State authority to do so with the sale of shares. “Very important point, we must understand that MVIL is not a State-owned Enterprise (SOE). MVIL is a Trust company,” stressed the MP. “The government can never act like a shareholder which it has been doing right up to now. When you go through the law, you will find out that the government owned enterprises are those companies where the initial operating capital is paid for by the government. That is the definition of a state- owned enterprise.” In the case of the MVIL, Mr. Kua said it came from a statutory organization called the Motor Vehicle Insurance Trust (MVIT). “It was a trust entity and the fund in that rust was not contributed by the government, but by the motor vehicle owners at that time, way back in the seventies (70s)." "When the MVIT started, the contributing start-up capital was paid for by the motor vehicle owners at that time." “That insurance premium was collected and that was converted into operating capital and every year, all insurance premiums, has been paid into that pool that the trust has been operating on.” He said all that changed in 2010 when NVIT merged with BSP when all the trust money went into BSP. However, the now MVIL still remains as a trust company and still gets new contributions from motor vehicle owners. “It continues to be a trust company. At no point ever did the government contribute to the start-up capital. That what makes the big difference.” He claims the government has been illegally getting dividends and has been acting like a shareholder too, making decisions about the investments of MVIL, which is not an SOE. Meanwhile, the Mineral Resources Development Company (MRDC) yesterday announced that the Group has increased its shareholdings in Bank South Pacific Financial Group Limited (BSP) by acquiring a large portion of the bank’s shares that were on offer to the public by the MVIL. MRDC Managing Director Mr. Augustine Mano confirmed the purchase of 70 per cent of the shares sold by MVIL through the Port Moresby Stock Exchange. As a result of this acquisition, an incremental boost in MRDC Group’s shareholding in BSP from 13 per cent to 15 per cent underscores landowner companies expanding position, making it the second largest shareholder after Kumul Consolidated Holdings.

Passengers and crew members on board an Air Niugini international flight into Port Moresby city this morning, are all safe and accounted for after the aircraft experienced a difficulty whilst landing at the Jackson International Airport. Air Niugini confirms this, stating that flight PX011 from Manila to Port Moresby landed safely at 08:25 this morning. Shortly after touchdown, one of the aircraft’s tyres deflated, and the aircraft came to a controlled stop on the runway. All passengers and crew members remained safe and on board throughout the response. According to Air Niugini, after assessment and consultation with the flight crew and engineering team, it was determined that a tyre change on the runway would be the most efficient course of action. The tyre was successfully replaced, and the aircraft was towed to the international terminal at 10:08. During this time, arriving and departing flights into Port Moresby were limited, and inbound aircraft were diverted to Lae city. The runway has since been cleared and operations have resumed. "We sincerely apologize to the traveling public for any inconvenience caused whilst this situation was dealt with.” “We thank our passengers for their patience and understanding, and we commend our flight crew, engineering, operations, and airport personnel for their swift and professional response to ensure safety and minimize disruption. And we appreciate our airport stakeholders and incident responders for their continued support,” Air Niugini stated.

The BSP Financial Group Limited has become a Gold Sponsor for the much-anticipated 2025 Special Economic Zone (SEZ) Summit with a sponsorship of K200, 000 presented this week to the Minister for International Trade and Investment. The presentation event took place on Tuesday 15th July at the BSP Ravalian Haus in Port Moresby city where Minister for International Trade and Investment, Richard Maru, MP, thanked BSP for its contribution and support of the summit, emphasizing the critical role of public-private partnerships in achieving economic independence. “We appreciate BSP’s commitment as Gold Sponsor. The bank’s support sends a clear message — that our financial institutions are invested in PNG’s long-term development. This summit is about more than SEZs. It’s about resetting our course and ensuring that in the next 50 years, PNG achieves true economic independence. We need to downstream process all our resources, build new industries, and create more opportunities for our people,” said Minister Maru. BSP Group CEO Mark Robinson said the bank is pleased to continue play a role in nation building, going beyond traditional financial services. “As the leading financial institution in the South Pacific, BSP is proud to go beyond banking — supporting platforms like this that drive strategic dialogue, bold reform, and economic planning. Our support for this summit is not just an investment in an event — it is an investment in a national conversation. One that we hope will lay the groundwork for the next 50 years of PNG’s economic story,” Mr. Robinson added. Themed “Reflecting on our past 50 years and charting the next 50 years”, the second SEZ Summit, will take place from August 31st to September 3rd in Port Moresby city. It is a key lead-up event in PNG’s 50th Independence Anniversary — providing a platform for government, industry, international experts, and development partners to reflect on PNG’s economic progress and set a strategic direction for the next 50 years. The summit will spotlight updates on seven Special Economic Zones, including Sepik Plains, Madang, Paga Hill, the Battery Recycling Plant and Sea Park in Central Province, among others. International guest speakers from Singapore, Thailand, Indonesia, and the Philippines are also sharing lessons from their own economic transformations. BSP’s contribution reflects its broader vision to champion prosperity across the South Pacific. As part of this commitment, the bank supports economic platforms that promote inclusive growth, industry development, and investment.

The matter of medical professionals working at the cancer unit facility at Lae Angau Memorial Hospital being on casual salary has not been resolved at this time, prompting the Opposition to call on the prime minister and questioning why nothing has been done about it yet. Opposition Leader Douglas Tomuriesa was in Lae city recently where he visited the hospital’s cancer unit when he was confronted with this issue that is still lingering despite many calls to the Health Department and the National Government. Speaking at a press conference this afternoon in Port Moresby city, Tomuriesa said the cancer unit is in the best conditioning with patients treated with the latest equipment; however, that is not being matched with the medical experts serving the patients at the unit with regards to their payroll. “During my visit to the Lae Angau Memorial Hospital, I was very, very concerned with the cancer unit,” said the Opposition Leader. “The unit has new facilities, new updated, upgraded facilities. When patients go in, they treat them with the latest equipment in the country and that is comparable to some other countries who have same equipment that we have.” “However, some of the technicians, doctors who have been working in there for the last five to ten years are still being paid on casual wages.” This he said means that these medical professionals have been working not as permanent staff, but temporary or part time basis at the cancer unit over the years providing the best possible medical care to cancer patients. “A letter has been sent to the Minister responsible for Health and the prime minister knows about this issue affecting the cancer unit in Lae, but nothing has been done. They’ve been promised that something will be done, but nothing has been done.” “My call to the prime minister and the health minister, how long can the staff of the cancer unit at Angau will continue to remind you?” He also said he has in his possession a copy of the letter that the medical staff had wrote to the health minister and the prime minister. “We spend a lot of money on Connect- PNG, we spend money on other things, but the people who care for the lives of our people, who work tirelessly saving lives, let’s put them on the payroll. That is my call.” Mr. Tomuriesa then thanked those medical staff who continue to be on casual arrangement for their immense work, because despite this matter, they continue to perform their duties in serving the people.

The country is marking 50 years of independence, celebrating strong unity and diversity and what better way to do it than celebrating it as well with a financial institution that has been around since the early days of Papua New Guinea’s journey as a country. That institution is the TISA Bank, born from the service and sacrifice of the country’s very own Teachers, Policemen and Women, Soldiers, Nurses, Doctors, and public servants, TISA Bank isn’t just another institution. In a statement, TISA Bank says it takes pride in charting a bold path forward, with plans to open more than 20 new branches within the next 18 to 24 months going forward. “We are extending our reach into the heart of Papua New Guinea, connecting with the unbanked and underbanked through an innovative agency banking network. A teacher should not leave their class, a nurse their clinic, or a police officer their post just to do their banking. “We’re bringing financial services to where you serve—because your time and contribution deserves that respect,” said TISA Bank. TISA Bank is owned by the people, thus, embodying the spirit of Papua New Guinean ownership, purpose, and accountability. This is not just a bank—it is a movement toward financial inclusion, community growth, and empowered livelihoods. “We urge every public servant to take part in this national initiative. Open your account. Own your bank. And stand with us as we build a more connected, resilient, and inclusive Papua New Guinea."

Members of the National Superannuation Fund (Nasfund) are being advised that this week, branches throughout the country will be closed temporarily for a few days. According to Nasfund, this temporary closure is for an upcoming staff engagement event which is part of the superfund’s commitment to fostering a positive and productive work environment. "This engagement event is crucial for our team’s development and overall service improvement. We appreciate the understanding and support of our members, employers and stakeholders during this period," said Nasfund’s Chief Executive Officer (CEO) Rajeev Sharma. The closure will take place on the following dates: · Nasfund Provincial Branches will be closed from Wednesday 16th July to Friday 18th July. · Port Moresby City Branches, head office and the eBranch will be closed only on Friday 18th July. However, all digital services, including the Member Online Portal, Employer Online Portal, TextBal, and the Nasfund App, will remain operational and uninterrupted during this period. Normal operations will resume on Monday 21st July 2025.