Fuel consumers through out the country will have to dig a bit deeper into their pockets this month because the price of fuel will increase starting tomorrow, Friday November 8th. The Independent Consumer and Competitions Commission (ICCC) announced that the price for all three petroleum products, which are petrol, diesel and kerosene, will increase on average right across Papua New Guinea (PNG) for the month of November. The domestic increase in the fuel price is affected by international supply restrictions due to the ongoing geopolitical tension in the Middle East. The changes will commence tomorrow with their Indicative Retail Prices…
Author: Emmanuel MAIPE
American energy company Chevron USA Inc will make an advance payment to Kumul Petroleum Holdings Limited (KPHL), in exchange for LNG and condensate cargoes over the next two years. This was achieved when Chevron (Singapore Branch) and KPHL closed an agreement just recently. Since the introduction of equity marketing at the start of 2024, KPHL has sold 4 LNG cargoes on the spot market and this term- sale will provide more security for KPHL. KPHL Managing Director, Mr. Wapu Sonk said KPHL selected Chevron’s forward sales agreement, following an extensive bid process with major trading, utility and other entities to…
The Papua New Guinea Chamber of Resources and Energy (PNG CORE) reports an uptake of registrations from delegates, exhibitors and sponsors with just a month to go before the hosting of the 2024 PNG Investment Week in Australia. Chief Operating Officer for PNG CORE, Mrs. Pansy Taueni-Sialis, says preparations are underway for the 2024 PNG Investment Week hosted by the PNG CORE from the 6th – 11th December at the International Convention Centre in Sydney. “Whilst we still have a number of delegate seats left, they are selling out fast alongside our exhibition booths and sponsorship packages and we encourage…
The Center for Excellence in Financial Inclusion (CEFI) in its effort to implement National Government policies on achieving financial inclusion, has partnered with the Department of Education (DOE) to start rolling out financial literacy curriculum in schools in the country. This was achieved when 21 books, comprising of seven Teacher Resource Books, Student Activity Books and Syllabuses each, were launched on Friday 1st November. These books were developed following an intensive two weeks of workshop involving teachers, textbook content writers from the DOE and a team from CEFI who put their heads together to develop the financial literacy curriculum. These…
Kina Bank customers have only today to hand in their Kina Local Cards to be replaced with a Kina Visa Debit Card as the bank makes changes to its banking cards to safeguard customers from theft and ensure ease of customer usage of Kina Bank cards. Customers can visit a Kina Branch nearest to them or for those in Port Moresby, they can also visit the two Kina Digital Hubs located at the Boroko Post Office or the Eliseo Rainbow Shopping Mall, to have their cards replaced free of charge. Kina Bank Chief Operating Officer, Mr. Roppe Uyassi said the…
A recent drug bust in the Western province saw police nab a suspect with over 4kilograms of marijuana with a street value of over K20, 000. Police personnel in the North Fly Command arrested and charged a male suspect for being in possession of marijuana weighing 4.5kilograms with street value of K20, 000 to K30, 000. The acting Police Provincial Commander (PPC), Inspector Anjap Minata said the suspect was arrested and charged under the amended Dangerous Drug Act under Section 3 (1) (d) and locked up at the Tabubil Police Station. The court file for the suspect is in progress…
As part of building the capacity of its workforce, NiuSky Pacific Limited (NSPL) is looking at introducing in the very near future a school to train the next generation of air traffic controllers for Papua New Guinea (PNG). NiuSky Pacific Acting Managing Director, Mr. Graham Blythe said this plan is captured in the recently launched 2025- 2027 Corporate Plan for the state-owned entity. Released along with NiuSky Pacific Strategic Direction 2025- 2030, the Corporate Plan outlines the focus for the next three years and the building of the new school is captured under its Strategic Portfolio Plan to enhance workforce.…
NiuSky Pacific Limited (NSPL) is in the process of reviewing the salary structure for its employees to improve the wages of its hardworking workforce nationwide. This was revealed by the NiuSky Acting Managing Director (MD), Mr. Graham Blythe when stating that this has been catered for under the newly launched 2025- 2027 Corporate Plan, which was launched along with the Strategic Direction 2025- 2030 on Tuesday 22nd October in Port Moresby city. “So, we’ve had a thorough review of salary structure, the staff have not had a pay increase since 2019. So, looking at the state of the economy and…
Papua New Guinea (PNG) has further strengthened its relationship with fellow Melanesian country Vanuatu in terms of economic and technical relations, through the signing of a significant framework agreement in Samoa. Prime Minister, James Marape, signed a framework agreement with the Vanuatu Prime Minister Charlot Salwai Tabimasmas, committing the two countries to pursue, develop, and implement economic and technical cooperation activities within the two countries for the benefit of their people. The signing took place today at Taumeasina Island Resort in Apia, Samoa, and on the margins of the Commonwealth Heads of Government Meeting (CHOGM). While thanking Vanuatu’s Prime Minister…
The Internal Revenue Commission (IRC) of Papua New Guinea (PNG) has extended the deadline for the grace period for taxpayers, especially business owners who have yet to make their tax returns, to do so quickly or face consequences. This week, the IRC sent out word to those business owners who have yet to lodge in their tax returns to the State, that they have until November 29th to do so or face deregistration. A tax return is a form filed with a tax authority (in this case the IRC) on which a taxpayer states their income, expenses, and other tax…