The main focus of the BSP Financial Group Limited (BSP) in its endeavors to providing financial and banking services to the people, is to ensure that these services continue to be improved for its customers in Papua New Guinea (PNG) and the pacific nations where BSP operates in. BSP Group Chief Executive Officer (CEO) Mr. Mark Robinson when opening the bank’s Annual General Meeting in Port Moresby city this morning. He stated that this is reflected in the improvements made to the banking system with innovative technologies, like the implementation of the new Core Banking System in 2023, improved operational…
Author: Emmanuel MAIPE
The country could see in the near future another major sugar production apart from Ramu Sugar in Madang province now that a Thailand company was given the go ahead to establish a Special Economic Zone (SEZ) dedicated to sugar in Abau district, Central province. The Minister for International Trade and Investment, Richard Maru made the announcement recently regarding this major undertaking in the agriculture sector. Minister Maru announced that Cocoland Sugar Development Limited in Abau will be developed as a Special Economic Zone after he met with the management team from Yaosoeng Sugar and Cane Consultant Company Limited (a Thai…
The youths of the Kerema district in the Gulf province now have an office to attend to and address their issues following the opening of the Kerema District Youth Development Council (DYDC) along with six (6) Local Youth Councils. The opening, which took place last week Friday 10th May that culminated a weeklong youth mobilization activity, was a milestone achievement for the youths and the district itself. Officiated by the National Youth Development Authority (NYDA) Director General, Mr. Joe Itaki, the event was witnessed by the Vice Minister for Petroleum and Member (MP) for Kerema, Thomas Opa and Kerema District…
Prime Minister (PM) James Marape this morning opened the Stakeholder Consultation on the National Gold Corporation Bill 2024 (Gold Bill) with one message, and that is for the concerned parties to find what is wrong with proposed bill and to work towards an amicable solution going forward. Today’s Consultation was arranged by the Minister for Mining in collaboration with the prime minister and aims to discuss this controversial bill that is currently before cabinet and on the notice paper to be presented in the May parliament sitting coming up in two weeks’ time. Papua New Guinea Chamber for Resources and…
The National Government continues its assistance to the affected business houses from the Black Wednesday riots and looting in the city of Port Moresby, this time with the release of its third batch of financial assistance. The cheque presentation of the financial assistance was carried out by the Chief Secretary to Government, Mr. Ivan Pomaleu on Monday 06th May, who also expressed regret for the unfortunate incidents that occurred on Wednesday 10th January. He shared his sentiments for those business houses, who were affected during the chaos saying, “The government values the contributions of business houses, that apart from collecting…
The Independent Consumer and Competitions Commission (ICCC) , through its nationwide price surveillance exercise, has reported that a lot of shops the ICCC team had inspected are complying with the current Price Measure in place. This comes as good news especially at a time of a rise in the costs of goods and services due to inflation experienced in the country. The ICCC Commissioner and Chief Executive Officer (CEO), Mr. Paulus Ain stated that most of the listed goods on the ICCC watch list as per schedule 1 of the Price Measure No. 4, which are essential basic goods, remain…
Prime Minister (PM) James Marape is expected to present in the upcoming parliament session details of his government’s performance and achievements over the past five years and strategies going forward in achieving his government’s objects. The prime minister recently announced that he will present a comprehensive scorecard detailing his government’s achievements over the past five years. This report, scheduled for presentation to Parliament on May 30th, 2024, will outline the progress made since his term began on May 30th, 2019. Reflecting on his government’s term, PM Marape highlighted the initial challenges faced upon taking office. “When I assumed the role…
The President of the Papua New Guinea Chamber of Resources and Energy (PNG CORE), Mr. Anthony Smaré continues to be vocal about the government’s proposed National Gold Corporation Bill 2022 (Gold Bill), stating that it will have extreme negative impacts on the country’s economy should it be passed in parliament. Speaking during the National Gold Corporation Bill Information Session in Port Moresby yesterday at the University of Papua New Guinea (UPNG) New Lecture Theatre, Mr. Smaré warned that the provisions of the Gold Bill, which restrict the independence of the Bank of PNG (BPNG) in issuing national currency, will be…
The people of the Gulf have been urged to get into viable business activities in preparation for the eventual commencement of upcoming resource projects in the province, so to tap into the spin off benefits that the projects will offer. Prime Minister (PM), James Marape, who was in the Gulf province recently for the opening of the Kerema District SME and Women’s Micro bank branch, called on the people in the province to prepare to supply goods and services to the forthcoming Papua LNG and the Wildebeest LNG Projects. He stated that the focus should be on local agriculture and…
The women folk in Kerema district of the Gulf province who wish to go into small businesses can now have access to financial services required for start- ups or support existing business operations, now that there are new facilities opened to cater for that. Just recently the Kerema district saw the opening of the District SME facility and the Women’s Micro Bank branch in the provincial capital. These new facilities came about from the efforts of the local Member for Kerema, Mr. Thomas Opa, who wanted to improve the lives of women and their households in his district. Prime Minister…