Ten young staff members of the Internal Revenue Commission (IRC) of Papua New Guinea are now in a better position to perform vital data analysis work that is crucial in the operation of the country’s tax organisation. These ten participants graduated from IRC’s Data Analytics Graduate Development Program (GDP) yesterday, Friday 11th October after going through the training that was facilitated by the Tax Intelligence Division of IRC under the leadership of Mr. Hiyemute Wayne, who is the IRC Acting Assistant Commissioner. The program itself aims to develop a new generation of professionals capable of leveraging data insights to enhance tax administration processes, aligning closely with IRC’s pillars, particularly Capacity Development. By investing in graduate training, the IRC is not only enhancing individual skills but also building institutional capacity to meet evolving tax administration challenges. This initiative supports IRC's overarching vision of establishing a robust tax administration system that effectively serves the people of Papua New Guinea (PNG). Commissioner of Taxation, Mr. Samuel Loi addressed the graduates, emphasizing their role as future leaders within the IRC. “These graduates represent the future of IRC. Their skills in data analysis will drive improvements in our operations, ensuring that IRC is better equipped to serve the people of PNG,” he said when highlight the importance of nurturing talent and aligning educational programs with organizational goals. The graduates expressed gratitude for their experiences throughout the program. One graduate remarked, “Joining IRC last year was transformative. The projects and mentorship strengthened our skills and our ability to contribute meaningfully to the commission’s goals.” Another graduate acknowledged the influence of external mentors like Tyson Fawcett from the Australian Tax Office (ATO), stating, “His insights pushed us to think critically, beyond our initial perspectives.”

The new TISA Bank, following the launching of its new logo last week, is now set to open its first branch very soon in Port Moresby city, marking a new chapter for TISA. TISA Bank Limited Chief Executive Officer (CEO), Mr. Sunit Pakharel confirmed that the first TISA Bank branch at Waigani will open to the public on Monday 21st October 2024. This upcoming opening of the first bank branch and recent launching of its new logo marks a new chapter in the story of TISA (Teachers Savings and Loans Society Limited), which initially started off as a savings and loans society for teachers in the country over 50 years ago. TISA’s new brand reflects on the evolution of TISA. The growth and transformation over the last 51 years of people helping people. Reflecting on TISA's journey over the years of service to the country, TISA Group CEO Mr. Michael Koisen said that the defining relationship between the shareholders and the board, is trust and attributes the success of TISA to the mutual trust that Papua New Guineans have for each other. “That idea has grown over the years into building a financial institution for Papua New Guineans and our new brand captures the essence of our organization as it transitions to a Bank.” As TISA expands, so too will the opportunities for local entrepreneurs to access capital, grow their businesses, and contribute to job creation. This is the core of nation-building and is what makes our work important. TISA Group Chairman, Mr. Gabriel Tai said TISA’s story began over 50 years ago with the purpose to serve Teachers - men and women whose purpose was to build the future of Papua New Guinea by educating the next generation of Papua New Guineans. “They understood the power of collective savings and the strength that comes from unity. From that foundation, we have grown into a financial institution that has now become a symbol of empowerment for all Papua New Guineans,” he said. The new brand commences the new chapter in the history of TISA with the aim to bring more opportunities to the people.

The PNG Komaras come out victorious in the recent International Touch Rugby Tournament held in Paris, France just recently, putting the country on the world stage in Touch Footy. In the Finals of the Touch Rugby Centennial Edition Tournament of 100 Teams, The TotalEnergies PNG Corporate Touch Rugby team, the Mighty PNG Komaras, were crowned champions. Having defeated 99 other representative Affiliate teams from across Asia-Pacific, the Middle East, Africa, Americas and Europe, the PNG Komaras secured their victory in their final game against the Geneva Jets on the second day of the two-day tournament on October 5th. Proudly playing against the top teams from France, the Netherlands, Qatar, Belgium and Switzerland in the pool and finals stages, the 12 member Komaras team, which consisted of seven men and five women, demonstrated their strength and determination, embodying the spirit of their name. Komaras Team Captain, John Tavaperry said the experience was truly unforgettable. After several months of training hard in Port Moresby, being able to interact with colleagues from across the globe and the hospitality they were shown in France, truly made their trip worthwhile. “The toughest we played were the semi and grand final against Belgium and Switzerland respectively. The Komaras played in the spirit and style we wanted to play in, which was appreciated by the other top 23 teams that were present,” he said. “We all felt privileged to be there, participating in a once in a lifetime tournament. We achieved what we set out to do, which was to be good ambassadors for PNG, and we appreciated the team spirit and support, shared with all teams, throughout the entire tournament,” he added.

The Ok Tedi Mining Limited (OTML) is celebrating its 40 years in Papua New Guinea (PNG) in which the mine contributed over billions of kinas in dividend, royalties, tax, tax credit schemes, and compensation payments in its four decades of operations. Starting in August 1984 as a gold mining operation by Broken Hill Property Limited (BHP), OTML transitioned to a copper-gold mine in 1987. From 2015 to present, OTML is a fully 100% PNG owned mine. OTML’s journey is characterized by both challenges and triumphs. Throughout its history, OTML has demonstrated resilience in the face of adversity. These include: · Navigating two significant droughts in 1997 and 2015, · The volatility of the world market and global gold and copper prices, · Legacy issues of its operations impact on the Ok Tedi and Fly River systems and the communities that depend on them. Despite these challenges OTML continues to remain resilient and has operated successfully by providing economic and social benefits to Western Province and PNG over the last 40 years. They include: · K13.4 billion in Dividends, · K1.4 billion in Royalties, · K10.2 billion in Tax/Duties, · K1.6 billion in Compensation, · K1 billion in Community Mine Continuation Agreement (CMCA) Payments, · K664 million in Tax Credit Scheme Projects, · Investing K146 million in education and training of graduates, apprentices, trade trainees, and school and university scholarships. · World class operational and environmental mitigation and monitoring measures. OTML remains optimistic in continuing its operations for another 40 years. This is evident in the renewal of it’s Special Mine Lease (SML) to 2042 and the Company Boards in-principal agreement to extend mine life to 2050. A series of events will be held in November to mark the 40th anniversary celebrations. These festivities will not only commemorate the past but also look forward to the future with optimism.

The recent International Monitory Fund (IMF) preliminary agreement for a loan to Papua New Guinea (PNG), has got the Opposition up in arms against what it says is another additional debt burden on a country that already has an increased debt level. The Deputy Opposition Leader and MP for Chuave, James Nomane, released a statement in response to this, stating that the IMF announced that PNG will borrow $265 million, approximately K1.0 billion in a new financing package to run alongside the over USD1.0 billion (PGK3.93 billion) PNG already owe the IMF. The IMF stated that PNG has reached a preliminary agreement for the $265 million deal aimed at enhancing climate change resilience, with the final approval expected in the coming weeks by the IMF's executive board. The announcement, made by the IMF on Tuesday, indicates that the staff-level agreement is the first step towards securing the resources needed to address the growing challenges posed by an altering climate. Mr. Nomane went on to say that this loan agreement was not even announced by the Marape- Rosso Government. “To make matters worse, we heard this via the IMF website, and not in a transparent, upfront announcement from our own authorities. K1.0 billion is a lot of money. Who is in charge of our economy when our own Prime Minister or Treasurer are shying away from such an announcement? How can the IMF be so nonchalant about posting this loan on their website?” Nomane questioned. “The IMF announcement was made on the back of an IMF staffer spending a few days touring the Sepik River and becoming an instant expert on our cost-of-living pressures as he proudly proclaims, “Inflation is at an all-time low in PNG at just 1.3%”. Seriously, is this man an economist or masquerading.” He said the IMF staffer stated that PNG’s economic outlook remains positive with growth expected to increase to 4.5% in 2024 from 2.9% in 2023, supported by the resumption of activities at the Porgera gold mine and improvements in access to foreign exchange, an average headline inflation is projected to remain historically low at 1.3% in 2024. However, Nomane said Porgera has not restarted and is mired in landowner issues and violence. “Maybe he should have gone to Porgera to see firsthand the diabolical disaster that has become of this once productive project before it got caught up in the Marape curse,” the Deputy Opposition Leader stated Secondly, Nomane said the Bank of PNG Governor announced earlier this week that growth in 2024 had slowed and was expected to be around 3% in 2024, suggesting that the economic situation is not in a position for additional loans. “Is the IMF economist contradicting our good Central Bank Governor?” In addition to these challenges, there are also additional issued like the shortage of cash to pay public servant wages each fortnight and hospitals cannot buy medicines, schools lacking operational funds, and the police regularly running out of fuel for their vehicles. “Yet the IMF economist after a couple of days touring about the Sepik says all is well. Does the IMF think that we are so gullible?” Mr. Nomane then concluded by saying that the people must absolutely reject this new loan of USD265 million as it will only add more financial burden on Papua New Guinea in the long run.

The Mineral Resources Authority (MRA) of Papua New Guinea (PNG) has officially welcomed the appointment of the new Mining Minister in a small but significant ceremony in Port Moresby on Tuesday, October 08th. The MRA management and staff yesterday officially welcomed the newly appointed Mining Minister, Wake Goi, who is the Member for Jimi electorate in the Jiwaka Province, and a People’s Party member. The minister visited the Mining Haus at Konedobu accompanied by his wife Mrs Goi, his First Secretary Reuben Daniel, People’s Party member and former Governor for Jiwaka, Dr William Tongamp, other party executives and Jimi District officials. In his welcome remarks, MRA Managing Director, Mr Jerry Garry, said Minister Goi brought to the Ministry, and the sector integrity, maturity and experience. “Minister, I want to assure you that the MRA team has a pool of mining expertise that you require, to give you advice and appropriately position you and I, so that we can drive the industry forward.” Mr. Garry said the mining industry was the biggest contributor to the national purse annually. However, he said the industry was also the most challenging industry that comes with a lot of complexities. He gave the Minister an overview of the MRA and the mining sector, including exports revenue statistics and the challenges faced by the sector amongst others. When addressing the staff, Minister Goi encouraged cooperation between his office and the MRA to ensure that the government’s agenda of “Take back PNG” is achieved. He said it was the government’s wish to see that the country gets a fair share from the exploitation of its resources, and at the same time ensure that investors get Returns on Investments (RoI). The Minister also said that he would provide the necessary political support and leadership to the MRA and the sector, to ensure that all stakeholders are adequately serviced. After the formalities, the Minister was given a tour of the country’s Mineral Production Data Monitoring Hub and Data Repository.

The recent issue between PNG Power Limited (PPL) and Dirio Gas & Power Company Limited, which saw Port Moresby city having to go into emergency loadshedding for a couple of days, has drawn the attention of the prime minister, who now wants a comprehensive report on the matter. Prime Minister (PM) James Marape has called on Dirio, PNG Power and relevant stakeholders to provide a full report on the Dirio situation that impacted consumers, both residents and business houses in the city. This request comes in light of the existing Power Purchase Agreement (PPA). Prime Minister Marape reiterated his government’s commitment to providing low-cost, reliable, and clean electricity not only for power consumers in Port Moresby and Lae, but also for urban centers and rural communities across Papua New Guinea (PNG). The Prime Minister expressed concern that the terms of the PPA between Dirio and PPL, designed to deliver affordable and reliable power to consumers, have not been fully realised as the Government had anticipated when the agreement was signed. He noted that this situation also applies to other PPAs with private power producers such as Edevu and Niu Power, as well as entities that supply diesel-generated power under various agreements. “PNG Power has been a weak company that we’ve inherited as a government. Over the last five years, the Ministry of State-Owned Enterprises has been trying to clean this place up, with a lot of work put into it,” Prime Minister Marape said. “Under our government, we’ve brought in, for instance, one of the best PPAs we’ve done as a country in a long while, supplying from Edevu to Port Moresby. That’s 54 megawatts of electricity that should be sold to PPL at the cheapest rate under the PPA arrangement. Just like Edevu, both Dirio and Niu Power are supposed to provide low-cost and reliable power to Port Moresby, enabling PPL to sell affordable and reliable power to its consumers. “That was the intention, and both of these projects were conceptualised before we took over as Government in 2019. We have gotten them off the ground, and they should be meeting Port Moresby’s power needs accordingly as expected,” Prime Minister Marape said. Under the various PPA agreements, Dirio and Niu Power were to provide cheaper and reliable power to PPL to enable it to sell low-cost, reliable power to consumers. “That was the intended outcome, but I’m surprised to learn that the cost of power through Dirio is said to be higher than what was agreed upon and anticipated,” said Marape. “The intention of my government is for low-cost power for our consumers through Edevu, Dirio, and Niu Power. That’s why we have PPAs. Our government’s policy is clear: we aim for cheaper, cleaner energy from hydro, solar, geothermal, and other clean energy sources, as well as gas fired power, as is the case with Dirio through the PNG LNG Project.” The Prime Minister clarified that Dirio is owned by five provincial governments and landowners of the PNG LNG Project under agreed terms and conditions. He emphasised that once the report on Dirio is received by the end of the week, the Government will consider reviewing the PPA and its terms and conditions. Where necessary, negotiations with PNG LNG Project and other relevant stakeholders will be conducted to ensure the availability of low-cost power for consumers, which was the original intent. He also noted that PPL had previously purchased more costly power from Moitaka and Kanudi power projects. In response, the Government sought cleaner and cheaper energy sources, which led to partnerships with Dirio, Edevu, and Niu Power. “If the original Government intention under PPAs is not being realised, then we will undertake a holistic review of the entire power supply system in our country.” “I assure you that I have requested a full report from the relevant stakeholders. Once the report is in, we will be able to make informed assessments on the way forward for the benefit of our power consumers in Port Moresby and nationwide,” Marape further stated.

The Member (MP) for Esa’ ala, Jimmy Maladina, who stood down as a government minister almost three months ago over a domestic violence case, has been reinstated to his former ministerial portfolio. Prime Minister (PM) James Marape on the afternoon of Tuesday 08th October confirmed the full reinstatement of Mr. Maladina as the Minister for Petroleum. Mr. Maladina stepped aside from his position early in July this year while a complaint against him was being processed by the Australian police and court. Prime Minister Marape said Mr. Maladina is being restored to his portfolio based on legal advice he has received. “I want to inform the nation that Hon. Jimmy Maladina has been restored to the Petroleum Ministry to continue the work in the petroleum sector. This is happening in consultation with legal advice we have received,” said the PM. The reinstatement of Mr. Maladina now sees the MP for Kerema, Thomas Opa, stepping down as the caretaker minister. “I commend Hon. Thomas Opa for standing in as caretaker during this time and for doing his absolute best in the short period,” Marape said when extending his thank you to the MP. Now that Minister Maladina is back in office, the PM said it’s time to get things done. “I am now looking forward to seeing the progress in P’nyang gas, and Minister Maladina completing the work on Papua LNG, all outstanding issue relating to landowner matters in Papua New Guinea LNG, and completing the present concession to production-sharing regime that we envisage for our country.” “There is much to be done by the Ministry and so I call on all players in the Petroleum sector to give Minister Maladina all your support,” said Prime Minister Marape.

Fuel consumers can breathe a sigh of relief this month as the Independent Consumer and Competitions Commission (ICCC) announce that fuel prices have gone down for October. The ICCC has stated that the changes have taken effect as of today, Tuesday 08th October for petrol, diesel and kerosene with their Indicative Retail Prices (IRPs) decrease on average nationwide. After adding all the various cost components, including the imported costs for each petroleum product, the domestic sea and road freight rates for the 2024 third quarter, the annual wholesale and retail margins for 2024, and Goods and Services Tax and applicable excise duties, the maximum retail price movements for fuel in Port Moresby will decrease as follows: · Petrol K4.18 per litre from K4. 38 per litre in September; a 20 toea decrease. · Diesel K3.88 per litre from K4.11 per litre in September; a 23 toea decrease, and · Kerosene K3.62 per litre from K3.84 per litre in September; a 22 toea decrease. The price decreases were mainly attributed to lower oil demand in China and increased production from Organization of Petroleum Exporting Countries (OPEC) and its allies. Meantime, the fuel retail prices in all other designated centres will change according to their quarterly approved domestic freight rates for the fourth quarter of 2024, and their respective annual retail margins for this year. The ICCC also stated that as part of its enforcement and compliance of fuel prices, its Investigative Officers will conduct inspections to all service stations to ensure prices of declared petroleum products comply with the allowable maximum prices in the country. The ICCC officers will also conduct compliance inspections in Lae, Mt. Hagen, Kokopo and Port Moresby cities. Inspection Administrators in other provinces will be supported by ICCC Agents and respective Provincial Administration in those provinces.

Nambawan Super Limited (NSL) members can continue to experience good discounts when accessing healthcare services at the Pacific International Hospital (PIH) after the Discount Partnership Agreement was renewed just recently. The renewal of the agreement was signed at the PIH in 3 Mile in Port Moresby city, giving the 228, 319 NSL members the advantage to access discounts in specialist health care services and out- patient care. Through the renewed partnership, Nambawan Super Members can benefit from the following discounted medical services: • 20% Discount on Laboratory, Radiology and In-Patient Department (IPD) Services, • Discounted Out-Patient Department (OPD) Consultation & Specialist Consultation, o K30 for General Practitioner’s (GP) Consultation (Normal Fee: K55) o K60 for Specialist’s Consultation (Normal Fee: K125) These discounts can be accessed by NSL members at the 3 Mile PIH and the PIH Medical Centre at Waigani in Port Moresby by presenting a valid NSL Membership Card during: o Monday – Friday 8am to 5pm o Saturday 8am to 12pm Nambawan Super Chief Executive Officer (CEO), Mr. Paul Sayer conveyed appreciation to the Pacific International Hospital for their dedication to providing quality health care. “The importance of access to good quality and affordable health services, especially in times of increasing costs of goods and services, cannot be overstated,” said the CEO. “We are grateful for this partnership with a leader in medical services to ensure our members can access top-tier healthcare at a reduced cost.” PIH is the only private sector Level 7 Tertiary Care Facility and ISO accredited service provider in PNG. This collaboration aims to provide NSL members with access to quality healthcare while making it more affordable. The Discount Partnership Agreement was signed by PIH CEO and Director, Colonel Sandeep Shaligram and the NSL CEO. Present to witness the signing ceremony was NSL Chief Member Services Officer, George Panao. The full list of NSL Discount Partners nationwide can be accessed on the NSL website, by contacting NSL’s Call Centre through Free Call on 180 1599 or via email at CallCentre@nambawansuper.com.pg.

The brand new TISA bank, after receiving its commercial banking license exactly two months ago, is ready to open the doors to its first branch this month after next week. This was revealed by TISA bank Chief Executive Officer (CEO), Mr. Sunit Pakharel during the official launching of the new TISA bank logo last night at the TISA Haus in Port Moresby city. After giving his keynote address at the launching, PNG HAUSBUNG had a chat with the CEO, where he revealed the plan that is already in motion to the opening of TISA's first bank branch in Papua New Guinea. Mr. Pakharel confirmed that the first branch to open will be the one in Port Moresby city. It will open to the public on Monday 21st October following the inauguration which should take place three days before that on Friday 18th October. "We will be starting our operation for Port Moresby branch then move to two more regions, then to other places," said the CEO. "So, well be starting from Waigani branch on the 21st and within a month's time, we'll be up and running from Lae, Mt Hagen and then Kokopo. That's the plan for TISA." He further revealed that TISA has over 10 branches throughout the country of its Saving and Loans parent company, which would eventually serve as bank branches. "We already have 17 branches and we're going to provide the banking operations from all these branches and even the customers can go and start opening accounts from 21st, but cash transactions is going to be provided after some time," Mr. Pakharel explained. TISA bank is set to roll out its banking service with also over 150 banking staff already in place with recruitment going on as well for more people to staff its branches as the bank opens more of its new branches in the country. "We're getting more people because all savings and loans staff are going to work as bank staff, so soon we are going to raise almost 400 plus staff in the branches as well as the head office." He said by the end of 2025, they are going to have almost 500 to 600 staff in all the branches that they are going to have. "We're creating job opportunities for the people," the CEO happily said. "In fact, we already started hiring fresh graduates ( from colleges and universities) and we are providing the training as well and it's very, very successful and we are quite excited with that." "We already had almost 30, 40 people. We're hiring more people and we are going to train them, that's the plan." Meantime, TISA bank's new logo is a bilum with its colours green and gold. The launching of the new logo also marked exactly two months the Bank of Papua New Guinea approved and issued TISA's commercial banking license, which was on August 5th, 2024.

The National Capital District (NCD) Governor, Powes Parkop, has come out to make a desperate plea to the police to appoint a permanent NCD/ Central Police Commander following a drastic increase in crimes in the capital city of Papua New Guinea (PNG). The good governor said since January 10th riots and looting (Black Wednesday), only acting appointment has been made to the Police Command in the City. He then went on the say that if the Commission of Inquiry (COI) into the January 10th incident has cleared Assistant Commissioner of Police (ACP) Anthony Wagambie Junior, then he should resume duties. Otherwise, Acting ACP Peter Guinness should be made permanent so that he can develop a better strategy to counter rise in offence like armed hold-up, said Governor Parkop. The governor also called for the immediate release of funding for the proposed CCTV project in the city. He said the funding for the CCTV Safe City Project together with command-and-control centres and quick response capacity was committed by Prime Minister James Marape in 2023 and is provided in this year's National Budget, so it should not be difficult to release this funding. Governor Parkop admitted that the hold-ups and petty crimes are becoming weekly happenings in the city and the governments, both at National and Sub-national levels, must find social and economic solutions that stop young people drifting to crime, especially hold-ups. As part of his government’s community mobilisation and safe city initiative, he has been mobilizing community networks to provide and boost, amongst other things, security in the city to assist police in their efforts. The first initiative is in Ward 8 which covers June Valley, Tokarara and Ensisi. The other 11 Wards will be mobilised too to address many social and economic issues they face with the support of National Capital District Commission (NCDC) and his office through the Provincial Service Improvement Program (PSIP) funds. “Under this community mobilisation, we are already deploying trained young people to clear major traffic lights and street junctions of vendors. Support to the Wards will start soon.” Governor Parkop also highlighted other city interventions that are targeted at providing support to young people and wider communities including SME empowerment programs, Urban Youth Employment Program, community surveillance and clean-up projects, School Fee Subsidy and TVET Programs, NCD Labour Mobility Scheme, Active City Development Program, investment in sports and church partnerships. “We, as government, must find social and economic solutions that divert or stop people resorting to such criminal activities. Our ordinary and decent residents are fed up with crime."