More information regarding the proposed construction of the Simbu Polytechnical (Polytech) Institute in the Gumine district is expected to be revealed today in parliament by the Minister for Higher Education, Research, Science and Technology. The Minister, Mr. Don Polye, in last week’s parliament sitting told the Member for Gumine Mr. Lukas Dekena, that he would respond in full to the member’s questions once he has the full details of this project. The member asked the minister as to what has become of the K41million funding allocated for the construction of the Polytech institution and what was the reason behind the…
Author: Emmanuel MAIPE
More than 2, 600 Small to Medium Enterprise (SME) operations in the country have benefited so far from BSP Financial Group Limited SME loan products since the loan service was established over two years ago. The assistance saw the local businesses expand, generate revenue, and create more employment through the various SME Loan Products BSP offers. BSP Group General Manager for Retail, Mr. Daniel Faunt in a statement, said that the SME Credit Enhancement Scheme loan (CESL) continues to get a lot of traction in Retail Lending since its roll out on 4th October 2020. “To date, we have funded…
The Governor for East Sepik Mr. Allen Bird is warning the government of a possible global financial crisis and that the country should start preparing for it so to deflect any further inflation in the country. The governor, during grievance debate in parliament in the recent sitting, told parliament that some of the world’s biggest banks like the Silicon Valley Bank in the United States, went bust just recently and other notable banks like the Credit Suisse Bank in Europe is also showing signs of trouble. He stressed that it’s not only that, but other major banks in the world…
The Bank of Papua New Guinea (BPNG) has come out to clear the air on claims that the Acting Governor of the Bank approved a financial trading licence for Golden Sun PNG Limited. The Bank, in a statement said the notices and documents that were circulated on social media are fraudulent and were never authorized by the Bank or the Acting Governor Ms Elizabeth Genia. Golden Sun PNG Limited has not applied to the BPNG for a license and is not authorized to take deposits. The Bank encourages the public to use the authorized financial institutions and be wary of…
Teachers through out the country are yet to be paid their 3% pay increase because the PNG Teachers Association is yet to meet with the Department of Personnel Management (DPM) on this matter. This was made know in parliament this morning by the Education Minister Jimmy Uguro, during question time. He said the DPM is still waiting for the PNGTA to meet with the department to do the necessary paperwork to make sure that 3% is paid this year. The minister, when responding to questions from the member for Moresby North East John Kaupa on the matter, explained also that…
Great news for Nasfund Contributors Savings and Loans Society (NCSL) members, it has been confirmed that the NCSL Members Services will be back online today. According to NCSL, Members Online Portal service should be back online at 5pm this afternoon; however, the Loan Application service will be back online on Monday 20th March. For the Employer Online Portal, which includes Loan Endorsement, Processing Member Contributions and Processing New Membership. For the USSD service, the SMS Banking services will come online on Tuesday 21st March, while the Poro Card service is temporary unavailable but should resume in mid- April. Members without…
Sir Bob Dadae was officially sworn in as the 11th Governor General of Papua New Guinea (PNG) this morning in Port Moresby, marking his second term in office as the representative of King Charles in the country. The ceremony took place at the National Parliament House Chamber at Waigani in front of members of parliament and dignitaries. He first took the Oath of Allegiance and the Declaration of Office and following that, he was officially sworn in by the Chief Justice of Papua New Guinea Sir Gibs Salika on the floor of parliament. Sir Dadae was re-elected as the country’s…
The country’s national power generation and transmission company- PNG Power Limited, is not going to be sold because it’s got some major financial issues that it is currently dealing with. The Minister for State Owned Enterprises William Duma in parliament today, admitted that the power company owes various creditors substantial amounts of money and already two of those creditors have taken the power company to court. However, this matter is being sorted out and the minister stressed again that PNG Power will not be sold off for cheap as a last-minute measure to get out of these problems. “I can…
The Minister for Foreign Affairs Justin Tkatchenko has announced that the next high-profile individual to visit the country will be the Prime Minister for India Narenda Modi, when he visits the country in May to meet with Pacific Island leaders in May. The minister said the Indian Summit with Pacific Island Leaders will take place on the 21st of May and onwards. It will see the Indian PM also hold bilateral meetings with heads of Pacific Island states on political and business partnership. Fourteen Pacific Island state leaders will meet up in Port Moresby to attend the summit. “This is…
The recently launched Moresby South 5 Year District Development Plan aims to continue to empower the people by improving basic services provided to the two thousand plus population living in the electorate. The Member of Parliament (MP) for Moresby South and Minister for Foreign Affairs, Justin Tkatchenko, when launching his district development plan last night in Port Moresby, said the five-year plan also covers both new projects and current projects in the electorate. Some of the areas covered in the five-year plan include education, health, community development and the settlement issues. MP Tkatchenko said the development plan is all about…