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…
Author: Emmanuel MAIPE
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…
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…
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…
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…
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 &…
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…
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.…
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…
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…