Over ten business houses in the New Ireland province are now in the glaring eyes of the country’s consumer watchdog for price gouging. That watchdog, the Independent Consumer and Competitions Commission (ICCC), issued a statement on this matter just recently stating that it will prosecute eleven (11) shops in the province for increasing their prices above 10 percent (10%) without prior approval from ICCC. During ICCC’s nationwide price measure exercise carried out in the province recently, it was recorded that 11 shops in Kavieng and Namatanai districts were found to have increased prices of certain goods listed in schedule 1 of the Price Measure No. 4 without seeking prior approval from the ICCC. Out of 32 shops inspected by the ICCC, 11 shops were issued with an Infringement Notice (IN) for failing to comply with the Price Control No. 4. Of this total, 8 shops were in Kavieng, 1 in Lakurumau (Poliamba) and 2 in Namatanai. These shops have been given 14- days if they choose to appeal the IN that was issued by the ICCC. In the appeal, these shops are to justify their reasons for increasing the prices of the certain goods sold or pay a K10, 000 fine for non- compliance. Failing this, they will be taken to court by the ICCC. ICCC Commissioner and Chief Executive Officer (CEO) Mr. Paulus Ain who was on ground, noted the retail prices for flour, cooking oil, laundry soap and sugar remained steady when the base price was collected last year during Phase 1. However, the prices for rice have been increasing gradually and it is a concern. Mr. Ain is warning shop owners who pretend to comply with the Price Order during the price inspection exercise that this is an ongoing exercise and if they are caught, they will be penalised. “Let this be a warning to all top shop owners that ICCC will not hesitate to penalise any shop that increases its prices of certain goods per Schedule 1 without applying to the ICCC prior to increasing the prices,” Mr. Ain warned. Meantime, the Commissioner also applauded the other shop owners for being compliant and keeping their prices at a reasonable level despite the current inflationary pressure experienced in the country.

Prime Minister (PM) James Marape met with the New Zealand High Commissioner to Papua New Guinea (PNG) on yesterday where he proclaimed that NZ continues to be very consistent partner the country’s development. Prime Minister Marape described New Zealand as “steady and reliable” in its partnership with PNG during his meeting with the New Zealand High Commissioner, H.E Peter Zwart. The bilateral meeting saw the two leaders discuss common issues of mutual interest between the two countries, New Zealand’s involvement in community development projects throughout the country, ongoing technical support to the revitalization of the Papua New Guinea public service, and Bougainville. In the next three years, New Zealand expects to invest some K350 million into projects and programs in PNG, including the rehabilitation of Lae market which has started. Prime Minister Marape thanked High Commissioner Zwart and the New Zealand Government for the assistance and continued his call for technical assistance in expertise to support the public service further. He acknowledged the similarity of indigenous cultures between PNG and the Maori and appealed for New Zealand’s assistance in supporting the growth of agriculture in the country, while inviting New Zealand companies to extend their investments in PNG. Marape highlighted to Mr. Zwart the country’s upcoming 50th Independence anniversary next year, revealing that the Government was planning a special reconciliatory event for Bougainville “to bring closure”, which, he said, New Zealand would have a special role to play in because of its continued involvement in the Bougainville peace process.

Indonesia’s President elect, Prabowo Subianto, while on his first State Visit to Papua New Guinea (PNG) in August, extended his invitation to Prime Minister (PM) James Marape for his inauguration, of which Marape accepted and will attend this weekend. Marape will represent the government and people of PNG at the inauguration of H.E. Prabowo Subianto as the eighth President of the Republic of Indonesia, scheduled for this Sunday, October 20, 2024, at the Senayan Parliament Complex in Jakarta. President-elect Subianto will be inaugurated alongside Vice President elect H.E. Gibran Rakabuming Raka, the son of outgoing President H.E. Joko Widodo. The inauguration ceremony will be attended by an array of esteemed international dignitaries, including leaders and high-ranking representatives. Key Indonesian figures, including former Presidents Megawati Sukarnoputri and Susilo Bambang Yudhoyono, will also be present, underscoring the significance of this occasion in the nation’s history. PM Marape’s participation highlights the robust state of PNG-Indonesia relations, which have grown markedly stronger over recent years. President-elect Subianto and Prime Minister Marape engaged in a productive dialogue during the President-elect’s visit to Port Moresby in August, reaffirming mutual commitments to further collaboration between the two nations. The Prime Minister also recently held discussions with outgoing President Widodo during the 3rd PNG-Indonesia Annual Leaders’ Dialogue, hosted in Jakarta from July 13-15, 2024. Since its inception in Jakarta in 2022, this Dialogue has become a cornerstone of bilateral cooperation, paving the way for increased engagement across multiple sectors. In August, Deputy Prime Minister John Rosso led a PNG government delegation to Indonesia, seeking to promote trade and investment opportunities for Papua New Guinean businesses in Indonesian markets. This delegation included prominent leaders, such as International Trade and Investment Minister Hon. Richard Maru and Labor Minister Hon. Kessy Sawang, as well as key figures from the private sector, signalling a deepening of economic and diplomatic ties between the two countries. Reflecting on Indonesia’s progress, Prime Minister Marape remarked: “The remarkable growth of Indonesia, our closest neighbour, from a developing nation to a global economic powerhouse, is nothing short of extraordinary. Reflecting on Indonesia’s growth, Marape said Indonesia’s success in sectors such as downstream processing of minerals and LNG, agriculture, tourism, and SMEs offers invaluable lessons for PNG. “As Indonesia ascends to the world stage, we have much to gain by collaborating and learning from their journey.” He said Indonesia's economy, the largest in Southeast Asia, stands as a testament to what can be achieved through strategic vision and determination.

The National Energy Authority (NEA) of Papua New Guinea (PNG) is now able to resolve conflicts or issues brought about by its stakeholders regarding matters relating to the country’s energy and electricity sector, through its newly launched Appeals Panel. The NEA also launched its Appeals Panel Guideline and Board Charter for Good Governance yesterday in Port Moresby city, along with the induction of the panel members, which includes the inaugural Chairman of the NEA Appeals Panel Mr. James Gore, who represents the Certified Practicing Accountants (CPA) of PNG. “The primary purpose of the NEA Appeals Panel is to ensure a fair and transparent process for addressing grievances and appeals within the National Energy Authority,” said Mr. Gore. The NEA Appeals Panel Mandate includes: · Reviewing Appeals; the Appeals Panel will meticulously review appeals submitted by stakeholders ensuring that each case is based on merit and in accordance with NEA policies and regulations, · Maintain Transparency; the Appeals Panel is committed to maintaining a transparent process providing clear and comprehensive explanation to all parties involved, and · Upholding Standards: through the Appeals Panel work, the NEA aims to uphold the highest standards of justice and fairness, reinforcing the credibility and trust in the NEA. Furthermore, Mr. Gore said the NEA Appeals Panel serves as an alternate resolution channel for resolving conflicts outside the court system. “This approach not only expedites the resolution process, but also reduces legal costs for all parties involved” “So, in conclusion, collective we will foster and environment of trust, accountability and excellence within the National Energy Authority.” Meantime, both documents (Board Charter and Appeals Panel Guideline) are vital for good governance and will support and guide the functions and operations of its governing Board and Appeals Panel. PURPOSE The purpose of this Guideline is to provide a clear process that guides the Appeals Panel and the Authority. 1. Ensure that all stakeholders in the electricity supply services understands the proper process for lodging an appeal application or requesting a review of a decision made under Part IV of the NEA Act, and 2. Provide the timeframe within which an appeal application should be dealt with regards to the lodgement and the review period; and 3. Outline the form and manner in which the appeal application will be lodged. APPLICABLE LAWS For purposes of this Guideline, the applicable laws referenced are: · The Constitution of the Independent State of Papua New Guinea · The National Energy Authority Act 2021 · The Electricity Industry Act Chapter 78 · The Independent Consumer and Competitions Commission Act 2002 (ICCC Act 2002) · The Boards (Fees and Allowances) Act 1995 LEGAL BASIS The Appeals Panel is established by Section 42 of the NEA Act. Section 121 (2) (f) of the NEA Act allows for the Appeals Panel Committees established under the NEA Act to develop governing rules to be enacted as regulations. However, the development and enactment process require a longer period of time, therefore, the option taken is a “necessary and convenient” approach to develop this Guideline to be approved by the Board pursuit to Section 11 (1) of the NEA Act.

The Teachers Saving and Loans Society (TISA) Limited has turned a new chapter in its long story, transitioning into the commercial banking sector, and its only fitting that TISA pays tribute to its long serving members who have taken this financial institution to this stage. Well, TISA did just that by recognising over 130 staff with long service awards recently on Friday 11th October 2024. The longest serving staff, Dorothy Bega, clocked in almost 40 years of service, serving in various roles within the organisation. Mrs. Bega, reflected on her journey, and proudly added, that TISA has always served the people by understanding the challenges, that people face. She added, her journey with TISA can be best described as a journey of trust, commitment and integrity. “When I joined TISA in 1987, I did not have a clear direction on where I wanted to be. Looking back at my journey, I can say I have been given opportunities that have paved the way for my career with the organization. I was fortunate to be involved with several key milestones of TISA for which I am truly grateful for, and I look forward to the next chapter with TISA Bank.” Dorothy said. Senior Application Administrator, Taita Labi, served over 20 years with TISA. Mrs Labi was instrumental in the early days of TISA, when the IT and Infrastructure for TISA was in its infancy. She reflected on one of her significant highlights in her journey, when Michael Koisen, the Group CEO of TISA, had a vision to reach Papua New Guineans, and open branches that could service most people in PNG as a savings and loan society. Mrs. Labi, says she looked on the map and all she could do was to believe in the Group CEO’s vision, that, TISA will reach PNG. TISA Bank is a testament of this vision. Mrs. Labi encouraged staff to believe in the effort and commitment they give to their job, as it contributes to making the service available to the member and customer. Head of People & Culture, Ms. Anna Leidimo, in her opening remarks for the evening said, “While we have grown as an organization, TISA remains committed to our people. Our people remain one of our most challenging yet rewarding part of the TISA journey. “Together, there is a wealth of history, experience and key learnings that all our staff share with this TISA story, and we are pleased to recognise staff for their commitment,” Ms. Leidimo added. TISA has grown and matured as an organization with a wealth of history, and a powerful brand story that spans over 50 years. As TISA prepares to embark on offering commercial banking services, it acknowledges the 130 long service staff who collectively have over 1, 350 years of service, from 5 years, 10 years, 15 years and 20 plus years, the longest serving staff clocking in almost 40 years of service. TISA Group Chief Executive Officer Michael Koisen acknowledged and congratulated the long service staff, saying that their commitment is a testament to their character and perseverance. “I truly am grateful for your commitment and support over the years, and I would like to encourage you all to continue to give that same commitment as we transition to TISA Bank.

Papua New Guinea (PNG) will participate in the perhaps the biggest world expo in Osaka Japan next year, and the word is, there will be an extra space apart from the allocated Pacific Pavilion, for the PNG team to better showcase the country to the rest of the world. The Minister for International Trade and Investment, Richard Maru confirmed this in a press conference this morning in Port Moresby city, when stating that PNG will not only have a pavilion at a shared pavilion at the World Expo in Osaka, because the National Government has made a very important decision for PNG to secure a commercial space outside the Expo Site to display and market its products and services. “I’m happy to announce today that cabinet has decided that apart from our shared pavilion on the Expo Site in Osaka, Japan the Government has now agreed to grant or lease office space outside of the Expo site for us to allow provinces, government entities and the private sector to go to Japan during the six months to go and set up your own display booths and market their products, their goods and service,” the minister announced. “We are looking at agencies like the Tourism Promotion Authority to go and promote our country and tourism opportunities and products in Japan,” Minister Maru said, adding that Japan has a keen interest in PNG in terms of tourism, given its history as well with the country. The ministers said this additional space is a boost to PNG’s participation in the Expo because in the shared Pacific Pavilion, all the provinces, private sector and government agencies, and public enterprises will only be doing digital exhibition to market their products and services. “That is why our government has made an important decision to secure a commercial space by providing K3 million (additional) funding in principle in the budget for next year to make this possible with the support of our private sector and SOEs.” “We want to make a bigger impact in the Japanese market and in the world at this Expo so we will be leasing a commercial space outside the Expo Site at the Osaka Bay Area where we can display and sell our products and services and promote PNG as an exciting tourism and investment destination.” Meantime, the overall total expected to send a PNG team to the 2025 Osaka Expo is around K8.6 million to be funding by the government. Minister Maru said this is a modest amount as he expects the Expo to bring a whole lot more benefit to PNG, stating that the expected outcomes would outweigh the cost. Minister Maru added that this will also further strengthen and expand the trade relation between PNG and Japan, stating that it's time as well to venture into other areas of trade between the two countries. Traditionally, PNG exports mostly petroleum products to Japan, but it's high time PNG and Japan trade in agricultural products as well, and this Expo is the way to do it. The 2025 Osaka Expo will commence in April and will run for six months altogether.

Over 300 Kids from the South Bridges International School in Port Moresby city launched and celebrate Global Handwashing Day with the Colgate- Palmolive (PNG) Limited team this morning along with the rest of the schools in the country. The school's Principal, Mr. Noel Bolvar, reminded his students that having clean hands play an important role in personal hygiene and as such, washing hands after using the toilet, coughing or sneezing, before touching or preparing food, and after touching animals, is important. He thanked Colgate- Palmolive for the initiative and for coming out to the school for this significant day. “We are honoured to have Colgate- Palmolive, a founding member of the global handwashing partnership, supporting this event.” “Their commitment to promoting hand washing awareness and improving hygiene standards worldwide, is truly commendable.” “Together with South Bridges International School, we aim to educate and inspire our community to adopt better health hygiene practices.” This morning’s event saw activities and demonstration sessions, designed to highlight hand washing to reduce the transmission of diseases to enhancing health and property, like the 4 Simple Step to washing hands: · Use soap & water · Scrub and rub hands for 20 seconds · Rinse hands with clean water · Dry hands with a clean towel “Remember that clean hands play a vital role in our daily lives,” said Principal Bolvar. Meantime, Colgate- Palmolive General Manager, Mr. John Wood, said Colgate- Palmolive through its brand Protex, and in collaboration with the National Department of Health, is encouraging the people of Papua New Guinea (PNG) to take two minutes out of their day to wash their hands, and promote a healthier future for everyone. Global Handwashing Day serves as a platform to increase awareness about the essential role of hand hygiene in preventing the spread of infections and diseases. He said with the inclusion of the students at South Bridges International School, more than 416, 000 students nationwide registered to participate today in marking Global Handwashing Day. The Clean Hands Good Health (CHGH) program, running since 2012, has positively impacted over 2 million children on the importance of hand washing and personal hygiene. Communities, families, and individuals are encouraged to practice regular hand washing to build healthy habits, reduce the spread of germs and diseases, and maintain good health.

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.