PNG Power Limited (PPL)has released another statement, the second this week regarding the matter with Dirio Gas & Power Company Limited, stating that it stands firm with the Courts decision on yesterday, ordering Dirio to restore its power supply the Port Moresby transmission grid. PNG Power Board Chairman, Mr. McRonald Nale in the statement released today said that the step taken by PNG Power to seek the courts orders, was sought after Dirio had approached the same courts earlier, to order PNG Power to pay unsubstantiated outstanding payments, or will be shutting down its power supply into the PNG Power Port Moresby Grid. “There is now a temporary Court Injunction/Order in place and therefore, we will allow the courts to take its course on this issue,” Mr Nale said. Mr. Nale expressed that any discussions referred to by Dirio in its Press Release today Tuesday 1st October addressing PNG Power’s inability to pay Dirio’s Outstanding bills only undermines the Court Ordered mediations that is currently on foot. Mr Nale further states that all parties in this mediation should refrain from making any comments which are now subject of mediation in court. “Essentially, any such discussions relating to PPL’s inability to pay Dirio’s Outstanding bills can take place and PPL encourages such discussions between the parties and further request that PPL be included in these discussions, however, supply of power must continue to the general public given this is an essential service,” Mr Nale said. Mr. Nale said PNG Power acknowledges that it owes Dirio outstanding bills, and these are matters now subject to the court ordered mediation. PNG Power has an existing Power Purchasing Agreement with Dirio Gas and Power Company, relating to 30 megawatts of power to be supplied by Dirio to address power reliability within the Port Moresby Power Grid. Under this PPA with Dirio Gas and Power Company, obligations sit on either side under normal and during dispute situations. Mediation that is underway is in line with the PPA that PPL is committed to working with Dirio to resolve all concerns relating to the power supply. On Friday 27th of September, Dirio gave notice to PNG Power on the shutting down of its power supply into the Port Moresby Power Grid, resulting in an instant Load Shedding Exercise on commencing on the same day. While the load shedding was on, Dirio was required to comply with the Court Injunction/Order by switching on their supplies back into the Port Moresby Grid. However, there are ongoing load shedding taking place in various feeders due to ongoing generation shortfall being experienced within the Grid. Key Points of the Court Order • The court has ordered that Dirio restore electricity supply from its power station near the PNGLNG Liquefaction plant at Papa Lea Lea, Central Province, to PPL's Port Moresby electricity transmission grid without delay. • Dirio’s Notice of Suspension of Electricity Supply dated 27 September 2024 has been stayed pending the determination of the ongoing legal proceedings. • Dirio is restrained from shutting down or reducing its electricity generation capacity below 30 megawatts to the Port Moresby Electrical Transmission Grid until the court reaches a final decision. • These orders are temporary and will remain in effect until 9 October 2024. The court has adjourned the proceedings to this date for further review and to determine whether the interim orders should continue. PNG Power then in that statement reaffirmed its commitment to supply electricity to its customers and to continue to keep the public informed about all developments related to this matter.

Prime Minister (PM) James Marape has set December as the deadline for the finalisation of all matters relating to the Wafi Golpu Mine so that the mine project can finally get off ground because time is running out. This means the finalisation of the Mine Development Contract (MDC) and issuing the Special Mining Lease (SML) for the Wafi-Golpu Mine. During a high-level meeting with the State Negotiating Team, Joint Venture Partners Newmont and Harmony, Deputy Prime Minister John Rosso, and Mining Minister Wake Goi, PM Marape emphasised the importance of immediate action on starting this important economic project in the Morobe province. “Time is ticking away. As a nation, we have collectively agreed that the Wafi-Golpu project must move forward—on terms that are in line with our laws and policies, especially those that ensure the State and Papua New Guinea secure 55 percent of the project’s economic benefits.” “I am pleased that the Framework Memorandum of Understanding (MoU), which was signed in 2023, honors this commitment,” said the PM. The Wafi Gopu project contains over 12 million ounces of gold and three million tonnes of copper. It is a significant undertaking expected to extend beyond 60 years. “However, we have agreed to a 40-year lease, contingent on the joint venture partners commencing the project within two years of the SML issuance," the Prime Minister further explained on the arrangement behind the mine’s life span. Reflecting on past delays, Prime Minister Marape lamented the significant time lost due to legal proceedings and reiterated that further delays were no longer an option. “I want to make it absolutely clear: we cannot afford to lose any more time. The Wafi-Golpu project must advance without further delay. This is a project of national importance, and moving forward on key milestones is critical to the country’s economic progress.” The Prime Minister set a firm deadline, stating that the MDC and SML for Wafi-Golpu must be finalised before the 2024 Papua New Guinea Investment Week, which is scheduled to take place in Sydney, Australia, from December 6-11. “The Framework MoU signed in 2023 is our roadmap, and it is time to act,” he added. Prime Minister Marape also highlighted the need to respect the patience of landowners and the Morobe Provincial Government, represented by Governor Luther Wenge, who have waited for years to see the project begin. “We cannot continue to hold them in suspense. Delaying any further will only invite frustration and discontent from landowners and local authorities,” Prime Minister Marape warned. Key provisions under the Framework MoU include: • The State and Papua New Guinea receiving 55 percent of the project’s economic returns. • State equity set at 30 percent, with 10 percent carried, and Morobe Province and the landowners receiving the carried equity. • A fiscal stability tax at 2 percent, in addition to a 30 percent full tax. • Royalty set at 3 percent with no deductions. • An additional US$394 million committed by Newmont and Harmony for social and community infrastructure, supplementing the Government’s K1.2 billion Infrastructure and Business Development (IBD) grant. • A local content forum to be convened between the developers, Morobe Provincial Government, and landowners, pushing for local content to exceed 80 percent during construction and ongoing operations. • An additional profits tax was secured, with a concession on dividend withholding tax. • Personal income tax will not be treated as the company’s contributions, unlike in the Lihir project. • The SML will be issued for an initial 30-month period, during which investors must complete Front End Engineering Design (FEED) and reach a Final Investment Decision (FID) to qualify for an extension. Upon reaching FID, Kumul Minerals Holdings Ltd (KMHL) will be required to make equity contributions through a cash call. Prime Minister Marape closed by reaffirming his government’s commitment to fast-tracking the Wafi-Golpu project, urging all stakeholders to move with urgency. “The time for action is now. We have the framework, we have the opportunity, and now we need to execute,” he said.

The touch footy team from Papua New Guinea (PNG), namely the PNG Komaras, are heading off to Paris, France today to participate in an international touch rugby tournament coming up this weekend. The TotalEnergies PNG Corporate Touch Rugby team will be participating in a global “Tournament of 100 Teams” Touch Rugby Tournament taking place in Paris on October 4th and 5th. Comprising of nationals from both the TotalEnergies EP PNG Limited and TotalEnergies Marketing PNG Limited Affiliates, the Komaras will compete in the finals against the top 24 teams, who also qualified via regional tournaments around the world where TotalEnergies operates (Asia-Pacific & Middle East, Africa, Americas & Europe). This opportunity follows the Komaras’ impressive victory in April, where they secured first place in the qualifying round of the intra-company Touch Rugby competition in Dubai, United Arab Emirates (UEA), where the team triumphed over 16 teams from the Asia-Pacific and Middle East Region to earn their spot in the finals. TotalEnergies celebrated its Centenary on March 28th with the Tournament of 100 Teams being one of the key activities to commemorate this milestone. The tournament embodies the values of the Pioneering Spirit and Standing Together, which are central to TotalEnergies' ethos. PNG Komaras Captain, John Tavaperry expressed the team's pride in representing both the affiliate and the country. "We are privileged to represent TotalEnergies PNG and our nation with pride. It is an honour to act as ambassadors for Papua New Guinea, especially as many people are not familiar with our country or its location on the map," he said.

Residents and business houses in Port Moresby city and parts of Central province now have full electricity supply once again after it was restored following a shortfall experienced over the weekend that led to an emergency power loadshedding. PNG Power Limited (PPL) in a statement says this was made possible after the National Court on Monday 30th September, ordered the immediate restoration of electricity supply from Dirio Gas & Power Company Limited (Dirio) to the transmission grid. The key points of the Court Orders are as follows: · The court ordered that Dirio restore electricity supply from its power station near the PNGLNG Liquefaction plant at Papa Lealea, Central province, to PPL’s Port Moresby electricity transmission grid without delay. · Dirio is restrained from shutting down or reducing its electricity generation capacity below 30 megawatts to the Port Moresby Electrification Transmission Grid until the court reaches a final decision. · These orders are temporary and will remain in effect until 9th October 2024. The court has adjourned the proceedings to this date for further review and to determine whether the interim orders should continue. PNG Power then in that statement reaffirmed its commitment to supply electricity to its customers. “We are committed to ensuring a stable and uninterrupted electricity supply to all PPL customers. We recognize the importance of collaboration and open dialogue in the energy sector. To that end, we will work closely with Dirio to find a mutually agreeable solution to the matters currently in dispute.” “Constructive engagement is essential for the prosperity of our nation and the well- being of our communities. Our focus remains on delivering reliable and affordable electricity services while upholding the highest standards of corporate responsibility.” Meanwhile, Dirio initially had to pull the plug on its supply to the Port Moresby electricity grid on Friday 27th September at midday. The reason being that PNG Power owes the landowner company a substantial amount of outstanding bills for the supply of power; over K240 million.

Dirio Gas & Power Company Limited (Dirio) has pulled the plug on its power supply to the Port Moresby city power grid due to outstanding payments owed by PNG Power Limited. Dirio, the countrys first independent power producer owned entirely by landowners from the PNGLNG project areas, released a statement on Friday 27th September stating that the power company has advised PNG Power that it has shut down its power station in Port Moresby. Dirio was founded in 2017 in line with the government policy to increase local participation in key industries to the countrys economic growth, and to ensure the governments target of 70% electrification by 2030. Since its inception, Dirio has never been the beneficiary of any government support like tax concessions or state guarantees. The landowner company started the sale of electricity to PNG Power under a long- term Power Purchase Agreement (PPA) in November 2021. Dirio, together with its partners, has operated the Dirio Central Province Power Station in accordance with the PPA terms to meet the electricity demands of the residents and businesses of Port Moresby. Despite having 45MW of capacity available, PNG Power has refused to take any more than 30MW, limiting the power generation available to Port Moresby residents and business houses. Dirios Chairman, Ambassador Isaac Lupari, said PNG Power continues to neglect its obligations under the PPA despite numerous attempts by Dirio to engaged and elicit a commitment to pay Dirio and its landowner shareholders un the PPA. The situation has now become untenable and PNG Power owes Dirio more than K240 million. By issuing the statement, the chairman said the company does not intend to cause inconvenience for the residents and business houses in the city, but the situation has gone to a point that warrant such action to be taken to get the attention of the government and the state owned PNG Power. Dirio is committed to being a source of reliable electricity for customers in PNG, and we hope that a resolution to this issue of non- payment can be resolved. Dirio operates by converting a certain percentage of gas from the PNG LNG plant site located just across the main highway from it, to electricity as part of Domestic Market Obligation (DMO) of the PNG LNG project. This gas to electricity is then supplied to the Port Moresby power grid. Meanwhile, after Dirio shut its power supply to the city at 12midday yesterday, PNG Power issued a notice on social media platforms advising city residents of an emergency power load shedding which is currently in effect.

Tomorrow will mark World Tourism Day, and the Papua New Guinea (PNG) Tourism Promotion Authority (TPA) will be hosting a conference with the identify and work to address issues affecting the tourism industry. World Tourism Day Conference is set to take place on Friday, 27th September, at the APEC Haus in Port Moresby to bring together various stakeholders from the tourism industry to voice their concerns and discuss strategies to mitigate challenges facing the sector. The global event will be observed in PNG through the informative conference, themed, “Tourism & Peace: Unlocking PNG’s Potential through Addressing Law and Infrastructure Challenges.” aims to tackle some of the most pressing issues hindering the growth of tourism in the country. Just recently the PNG TPA reported a big surge in tourists visiting the country with K38 million injected into the country’s economy from these visits just this year alone; a driving factor behind the efforts to do more to address issues impacting the tourism industry so that a lot more tourists may come visit the country. The conference will be focusing on three critical topics, Addressing Law and Order, Aviation and Infrastructure and Tourism Operators. Special guests expected to speak during the conference are, Acting Managing Director for the National Airports Corporation (NAC), Mr. Dominic Kaumu, Chief Executive Officer (CEO) of Air Niugini Limited, Mr. Garry Seddon, Governor of NCDC, Powes Parkop, Police Commissioner David Manning, and the Head of the Tourism and Hospitality Management Department at UPNG, Dr. Joyce Rayel. TPA’s CEO, Eric Mossman Uvovo described the conference as a crucial and timely event for the sector. "This conference is a crucial moment for the future of tourism in Papua New Guinea. We are bringing together the key players in the industry to discuss real challenges and find practical solutions that can unlock our country’s vast tourism potential,” he said. “Law and order, infrastructure, and aviation are critical areas where we need progress, and this dialogue will be an important step toward a brighter future for tourism in PNG.” Uvovo also emphasized the importance of stakeholders from the industry working collaboratively for the future of tourism in the country. “Discussions ranging from government security strategies to aviation infrastructure updates and the challenges faced by tourism operators. The conference will provide a platform for collaboration between the public and private sectors.” He added that PNG’s tourism industry has enormous potential, but unlocking that potential requires a unified effort to address the barriers that currently hold us back.

Papua New Guinea (PNG) has seen a surge in marine tourism with more than 24, 000 cruise ship tourists visiting the country this year alone. According to a report released by the PNG Tourism Promotion Authority (TPA), using data provided by Inchcape Shipping, a total of 24, 407 visitors have arrived in PNG so far this year on 12 different international cruise ship liners. The cruise industry is playing a significant role in boosting the country’s tourism numbers, with several more vessels scheduled to arrive before the end of the year. Between October and December, four more cruise ships are expected to bring an estimated 6, 548 additional visitors to PNG, further contributing to the nation’s growing tourism sector. The most frequent visitor to PNG’s shores has been the Pacific Encounter, a popular ship owned and operated by the Carnival Cruise Line. In contrast, the French-operated Le Soleal, owned by Compagnie du Ponant, has brought the fewest number of visitors but has remained a key player in the luxury cruise market. TPA’s CEO, Mr. Eric Mossman Uvovo highlighted the unique appeal of Papua New Guinea, which continues to attract visitors not only through its ports but also via international air services. “Papua New Guinea offers a truly unique experience from our rich cultural heritage to stunning natural landscapes,” said Mr. Uvovo. “Our country’s appeal spans across various types of travelers, whether arriving by sea or air. Each visitor has the chance to embark on their own million different journey of discovery, and that’s what makes PNG such a remarkable destination.” Uvovo also highlighted TPA’s ongoing efforts to build lasting relationships with the international cruise industry. “Over the years, we have worked closely with various cruise lines to forge strong partnerships that have been beneficial to our marine tourism sector. As the cruise ship season progresses, we look forward to welcoming even more visitors to explore the nation’s million different journeys, making Papua New Guinea a must-visit destination for travelers from around the world,” said Uvovo.

Prime Minister (PM) James Marape on Monday announced that the 2025 National Budget will provide significant support for both the Judiciary and the Magisterial Services. The PM made this announcement after receiving the Judiciary’s budget estimates for 2025 from Chief Justice Sir Gibbs Salika and Chief Magistrate Mr. Mark Pupaka on Monday 23rd September in Port Moresby city. Prime Minister Marape underscored that law- and- order is now the central focus of the Marape- Rosso Government, a stance that reflects the Government’s recognition of its critical importance to national stability as Papua New Guinea (PNG) prepares to celebrate 50 years of independence in 2025. Sir Gibbs requested K369 million as Recurrent Estimates for 2025 in the Judiciary’s Appropriation Bill 2024, an increase of K72.7 million from the 2024 allocation of K296.4 million. Mr. Pupaka also pointed out that the Magisterial Services’ 2025 budget is projected at K109 million, up from the 2024 allocation of K98 million. The Chief Justice also praised the Government for fully funding the Judiciary's request in the 2024 National Budget, while the Chief Magistrate acknowledged the Government’s commitment since taking office in 2019, providing Magisterial Services with its highest-ever level of funding. Prime Minister Marape assured them of the Government’s continued commitment to providing sufficient funding to ensure the effective administration of justice. The PM reiterated that law- and- order is the foundation of a functioning society and economy, stating: “Administration of the Law and Justice Sector is what secures our country, especially our economy, and both the Higher Court (Supreme and National Court) and the Lower Court (Magisterial Service) are equally important in this regard.” “A successful country is one that follows the rule of law. We cannot pass on a country riddled with law-and-order issues to the next generation. We cannot defer conversations such as this, which focus on strengthening the sector,” said Marape when emphasising that a strong rule of law is non-negotiable for PNG’s future. He highlighted that the Government’s focus on law- and- order was demonstrated when, immediately after defeating the no-confidence motion on September 12, the Coalition went straight into a meeting and resolved that law- and- order must be the No. 1 priority of the Government. “In 2019, after we first formed Government, the economic agenda was No. 1. This time around, my Coalition partners have resolved that law- and- order must be our No. 1 priority,” the Prime Minister said. “In line with that, and with the presentations by the Judiciary and Magisterial Services, we will provide the necessary resources and support to both. In 2025, as we celebrate 50 years of independence, we will also open the new Waigani National Court Complex.” Prime Minister Marape concluded by assuring the Judiciary and Magisterial Services that the Government’s full support is behind them as part of its broader strategy to restore law- and- order across the country. Meanwhile, also in attendance at the meeting were the Chief Secretary to the Government Mr. Ivan Pomaleu, National Judicial Staff Services (NJSS) Secretary Mr. Nicodemus Mosoro, and NJSS Acting Deputy Secretary, Mr. Humphrey John.

A church and government partnership will see the construction of a new health center to serve the people of Yangoru- Saussia district of East Sepik province in the near future. This was seen recently when the Yangoru- Saussia District Development Authority (DDA) made a commitment to partner with the Seventh Day Adventist (SDA) Church to build a new health center at the cost of K1.5 million in Nagum. The Minister for International Trade and Investment & Yangoru-Saussia MP, Richard Maru made this commitment at the 22nd Grade 10 and 4th Grade 12 Graduation of Nagum Adventist Secondary School. “We will start building this major health centre next year and it will serve the people in Urimo Ring, Mongen Ring, and the Marinumbo Ring of Sause LLG. This service is very much needed in this underserved area. The new police station that we are building at Nagum will complement this new health centre and the school,” said Minister Maru. “We are also happy that the Nagum Adventist Secondary School has offered to host the Sause LLG TVET training centre and we will look at funding this project next year.” Minister Maru also encouraged Nagum Adventist Secondary School and all other schools in the district to seriously look at taking up poultry farming as a business to supplement their income. “We want all our schools in the district to be self-funding in a lot of ways apart from depending on the Tuition Fee-Free funds to generate much needed income for the schools,” said Minister Maru.

The Internal Revenue Commission (IRC) of Papua New Guinea (PNG) will now be able to audit companies in the fisheries industry to ensure they comply with the country’s tax laws. This was made possible through a recent Memorandum of Understanding (MoU) signed between the IRC, the National Fisheries Authority (NFA) and National ICT Authority (NICTA), on information sharing. From a tax perspective, the fisheries sector has been challenging to administer and manage resulting in the IRC unable to correctly audit players in the PNG fisheries industry. The consequences of this have been a reduction and loss in the overall tax revenue, a drag in tax compliance, a non- disclosure of revenue specifically, and directly affecting corporate income tax and goods and services tax. The IRC Commissioner General, Mr. Sam Koim, strongly emphasised the need to aggressively ensure that the conduct of players in the primary industry are properly scrutinized, monitored, and regulated. Given that the fisheries sector falls within the ambit of the broader primary industry, the IRC aims to curtail adverse effects associated with transfer pricing, based erosion and profit shifting in the fisheries industry. This cannot be achieved without a strong collaboration between the NFA and the IRC. During the MoU signing last week, another key issue brought up was data security when sharing information between the three state agencies. Data protection is a crucial part of this MoU, which aims to safeguard personal and private data as well. Mr. Justin Llikani, Managing Director of the NFA, stated, “The MoU signifies the partnership between NFA and the IRC to ensure data compliance, particularly in the fisheries sector, where companies must adhere to both fish management and tax laws.” The goal is to share data to ensure compliance and prevent tax evasion while protecting data sovereignty and adhering to NFA policies. A data warehouse will be created to store fisheries and tuna data, ensuring it aligns with NFA's data protection policies. The MoU will set the foundation to address these challenges with Mr. Koim also added that international taxation efforts are being pursued, including participation in conferences and investments in pillar- one and two work led by OECD. “Countries like Australia are already collecting taxes from companies like Google and Facebook, and similar efforts are being planned,” he stated. The signing of the MoU enhances the IRC's collaboration with key stakeholders, through its professional partnership framework. This framework supports the responsible use and sharing of data under the IRC's Data Governance Framework, ensuring that strong policies are in place to effectively manage data throughout its lifecycle.

A delegation of Australian businesses is embarking on an important journey to Papua New Guinea (PNG) this week on a mission to further strengthen business ties between the two countries. The trip, which commences today Monday 23rd September to Friday 27th September, aims at fostering stronger economic ties and increasing trade and investment opportunities between PNG and Australia, through the Australia- Papua New Guinea Business Exchange. This Australia-Papua New Guinea Business Exchange will take place in Lae and Port Moresby cities, featuring a series of targeted events designed to facilitate dialogue, collaboration, and partnership between Australian and Papua New Guinean enterprises. The highlight of the Exchange will be a Business Breakfast this Thursday 26th September, where influential leaders from the Westpac Group and the Australian High Commission will share insights on the evolving business landscape in PNG and strategies for successful investment. This initiative comes at a crucial time as both Australia and PNG seek to deepen their economic relationship, leveraging their shared geographic proximity and cultural ties. The program will include networking opportunities, panel discussions, and site visits to key industries, enabling Australian businesses to better understand the local market dynamics and explore potential collaboration with PNG counterparts. PNG businesses across various sectors, including technology, building and construction, infrastructure, and renewables, are encouraged to participate, as the Business Exchange presents a unique platform for forging meaningful connections and expanding their partnership opportunities. Minister-Counsellor, Australian High Commission, Papua New Guinea Ms Diane Barclay, says PNG is a land of opportunity, and this Exchange is a vital step towards unlocking its full potential for Australian investors. “We believe that fostering strong partnerships will not only benefit our businesses but also contribute to the economic growth of both countries.” Mr. Rio Fiocco, the President from the Port Moresby Chamber of Commerce and Industry (POMCCI) says they look forward to hosting the business delegation at the POMCCI breakfast event. “Engaging with Australia’s vibrant business community is essential for creating sustainable investment opportunities.” “We are excited to support this initiative and look forward to seeing the outcomes of these important discussions.”

A prominent company in the country's health sector is currently being investigated by the Internal Revenue Commission (IRC) of Papua New Guinea (PNG) for tax evasion. The IRC Commissioner General, Mr. Sam Koim, issued a statement confirming that an audit conducted by the IRC, revealed a serious level of tax evasion by this particular company, whose name is withheld due to the ongoing investigation. "The IRC strongly warns that tax evasion through fraudulent means is illegal and that it (IRC) employs rigorous systems to identify and penalize such practices," said Mr. Koim in that statement released. The IRC has initiated legal action against the said company to demonstrate its commitment to addressing these fraudulent practices and urges all corporations to act as responsible citizens by fulfilling their tax obligations accurately, thus contributing to the nation's development. "The IRC's strong stance aims to promote tax compliance and protect the integrity of the tax system in the country.