Nambawan Super Limited (NSL) today has announced a record-high Net Profit After Tax of K1.1 billion as part of its financial results for the year 2024 and 10.5% interest credit rating for its 235,888 members. This follows the approval of the audited financial statements by the Board of Trustees last week Friday, 21 March 2025. NSL incoming Board Chairman, Mr. Richard Sinamoi stated that NSL recorded a 3.3% growth in Membership to 235,888 Members with a Net Asset Value (NAV) of K11.2 billion and a record NPAT K1.1 billion. Mr. Sinamoi said the Board declared an interest rate of 10.5…
Author: Maxine KAMUS
Prime Minister James Marape has expressed his heartfelt gratitude to all Members of Parliament for their dedication and commitment during the last two weeks of Parliament sittings, describing their efforts as “monumental” and “historic.” Mr. Marape praised the bipartisan effort of Members from both the Government and Opposition who endured long hours of debate to pass crucial laws ahead of the 50th Anniversary, aimed at strengthening Papua New Guinea’s governance framework and enhancing social stability. “I wish to thank all Members of Parliament who, whether the public noticed or not, have been sitting through lengthy sessions over the last two…
City Pharmacy Limited (CPL), the largest retail pharmacy chain in Papua New Guinea, has entered a groundbreaking partnership with the United Church Urban Region Office (UCURO), Motu Koita Assembly (MKA), and the National Capital District Provincial Health Authority (NCDPHA) to establish a new City Pharmacy and Bon Café within the Metoreia Health Centre premises. The partnership is formalized through a Memorandum of Understanding (MOU) that outlines the construction of the new pharmacy. The Right Rev. Jacob Kila Harry, Bishop of the United Church Urban Region, expressed his enthusiasm for the partnership, emphasizing that the new facility will significantly benefit the…
The Local Level Government Administration (Amendment) Bill 2024 has been passed in Parliament. Minister for Provincial and Local Level Government Affairs Soroi Eoe who presented the Bill to Parliament stated that the Local Level Government Administration Act, 1997 is the legislation that governs the operations of Local Level Governments in the country. Minister Eoe said there are 331 Local Level Governments (LLGs) and 6, 375 wards operating in the country. “Section 42 to 51 of the Local-Level Administration Act also provides the legal basis for the establishment of the Local-Level Government Special Purpose Authorities (LLG SPAs) and govern their operations…
Prime Minister James Marape has welcomed the passage of the Fire and Rescue Service Bill 2025, describing it as a major milestone in strengthening Papua New Guinea’s fire and emergency response capabilities. The Bill, introduced by Defence Minister Billy Joseph, was successfully passed in Parliament, repealing the outdated Fire Service Act (Chapter 64) and replacing it with a modern legislative framework to address the country’s growing urban landscape and evolving emergency response needs. PM Marape commended Minister Joseph for championing this crucial legislation, stating that the reforms would significantly enhance the National Fire Service’s capacity to protect lives and properties…
The Government of Papua New Guinea (PNG), through the National Executive Council (NEC), has awarded a landmark contract for the implementation of a Goods and Services Tax (GST) fiscal monitoring system to Virtual Flex Limited, in collaboration with the international firm, Data Tech International (DTI). The Internal Revenue Commission (IRC) stated that the contract, officially signed by the Governor General yesterday at the Government House, marks the beginning of this transformative initiative designed to modernize tax administration and enhance GST compliance nationwide. “The system known, as TaxCore produced by DTI, will be called Goods and Services Monitoring System (GMS) in…
During Question without Notice in Parliament, Member for Hiri-Koiari Keith Iduhu raised a series of questions in regard to the Connect PNG Program and directed it to the Prime Minister James Marape. Mr. Iduhu stated that the Government’s CONNECT PNG program, established under the Connect PNG (Implementation and Funding Arrangements) Act 2021, commits 5.6% of the annual national budget to infrastructure development, equating to over K1.1 billion annually from 2022 to 2027. He said in 2024 alone, the transport sector, including CONNECT PNG, received K2.059 billion, representing 21% of the total Capital Investment Budget. “Meanwhile, the health sector was allocated…
The Papua New Guinea Institute of Directors (PNGID) and the Lae Chamber of Commerce and Industry (LCCI) partnered to host a business breakfast on Monday 17th of March,2025 in Lae, Morobe Province. The event was sponsored by the Investment Promotion Authority (IPA) to launch the PNGID’s Director Development Program in Lae. PNGID said that this is the first time the director development program has been officially conducted in Lae. “Present at the event were representatives from the Lae business community, Phil Franklin Deputy Chairman of IPA Board, John Byrne, President of LCCI, Graham Ainui, IPA Board member, IPA Managing Director…
Prime Minister James Marape has commended Parliament for its overwhelming support in passing the Income Tax Bill 2025 with a resounding vote of 79-0, describing it as a monumental step towards eradicating outdated colonial laws and establishing a fairer, more equitable taxation system for Papua New Guinea. Speaking during the parliamentary debate, PM Marape acknowledged the bill as a critical component of his government’s ‘Take Back PNG’ agenda. Mr. Marape praised the bipartisan support received for the bill, which he described as an essential aspect of revisiting and modernizing the fundamental architecture that holds the country together. “For 66 years,…
The Papua New Guinea Tourism Promotion Authority (TPA) has committed K50,000 towards the 51st Hiri Moale Festival on Thursday, March 13, 2025, at the Motu Koita Assembly boardroom in Port Moresby. TPA said the festival is set to take place from April 3rd to 6th. The Hiri Moale Festival is one of Papua New Guinea’s most celebrated cultural events, honouring the historic Hiri trading voyages between the Motuans and Gulf people. “This year’s festival is expected to attract more than 15,000 attendees, drawing cultural enthusiasts from across the country and beyond. Beyond the financial sponsorship, PNGTPA will collaborate with the…