National Superannuation Fund (Nasfund) has congratulated Bank South Pacific Group on its’ 2021 performance. The 2021 Full Year Results, announced to the market this week, includes a Net Profit After Tax of K1.075 billion, and a dividend payment of K1.34 per share. Nasfund owns 9.7% of the largest and fastest-growing bank in the Pacific Region. Commenting on these results, Nasfund Chairman Charles Vee commended BSP Chairman Sir Kostas Constantinou & the Board, Group CEO Robin Fleming, Management and Staff for delivering sterling results for the 2021 year, in a challenging economic environment. “As one of the top 5 shareholders of…
Author: PNG Haus Bung
Founder of a local mental health awareness organisation Changing the Narrative is calling for more recognition of mental health issues by Papua New Guinea’s corporate community. Gaironedi Lavett, says that stigma is so big in the country that we feel anger and aggression instead of compassion towards those that are mentally ill. Lavett believes that the business community must take into account the fact that there may be employees suffering from mental health issues that they are not aware of. “Business houses must not treat their employees like robots; they need to be aware that sometimes performance is hindered because…
The investigation into a report about foreign consultants engaged by the National Judicial Staff Services receiving millions of kina worth of payments is ongoing and has not yet been completed. Justice Minister Bryan Kramer revealed the status of the investigation upon a series of questions by Rabaul MP Dr Allan Marat during Question Time in Parliament yesterday. On January 27 this year, Minister Kramer released a statement regarding payments worth millions of kina being paid in Australian dollars to foreign nationals employed as consultants by the NJSS. It was alleged that some are paid K200 million a year and receive…
Overcharging of school project fees is deemed illegal and school principals or teachers issuing these charges will face suspension if found to be practicing these. Education Minister Jimmy Uguro gave this undertaking in parliament yesterday when responding to Moresby North East MP John Kaupa to clarify on the project fees component required of parents. “For 2022, projects fees are allowed for parents and only the authorities concerned which are the National Education Board and Provincial Education Boards are responsible for that,” Mr Uguro said. “Schools and their principals are not the ones to charge project fees.” “Overcharging of project fees…
The project fee this year for elementary schools is K20.00, primary schools K60.00, secondary schools K220.00, vocational schools K200.00, Special Education K40.00 and K20.00 for each subject for FODE programs. And the amounts remain the same for all the schools in the National Education System in the country. Education Minister Jimmy Uguro said the amounts mentioned is what the Provincial Education Board is supposed to apply in schools all over the country. Responding to a supplementary question in parliament yesterday on whether the fee amounts are the same in all the schools around the country, Mr Uguro said the project…
Russian forces have launched a major assault on Ukraine, firing missiles on cities and military targets. The invasion by land, air and sea began after a pre-dawn TV address where Russian President Vladimir Putin demanded that Ukraine’s military lay down its arms. Initial reports of casualties included Ukrainian civilians and soldiers, and Russian troops. Ukraine’s leader said his country “won’t give up its freedom”. “Russia has embarked on a path of evil, but Ukraine is defending itself,” President Volodymyr Zelensky tweeted. Ukraine has declared martial law and severed all diplomatic relations with Russia. It says weapons will be given to…
On 22 February 2022, the Independent State of Papua New Guinea and the P’nyang Project co-venturers, including Esso PNG P’nyang Limited and Ampolex (Papua New Guinea) Limited together with affiliates of Santos and JX Nippon, signed the P’nyang Project Gas Agreement for the proposed development of the P’nyang LNG Project. Key takeaways: Gas Agreement execution provides a firm framework towards the P’nyang Project’s future development Gas Agreement reflects the Government’s desire for phased development of the Papua and P’nyang projects and its focus on provincial and national benefits The proposed ExxonMobil-operated P’nyang Project would deliver LNG by constructing new upstream…
Public Motor Vehicle (PMV) buses designated to route 7 and 9 in NCD, went on strike yesterday leaving many commuters despaired and stranded. Many city residents were forced to walk from their place of work to their homes yesterday. The route 7 and 9 busline connects Gordons, Boroko and Gerehu for thousands of city residents. Acting Admin Sergeant Frank Sau attached to the Office of the Commander NCD Central led a police team in a mediation with the disgruntled PMV operators at Waigani yesterday. The strike occurred after police acted upon a barrage of public outcry by impounding several buses…
Work has commenced on the construction of a steel framed building at Semo Health Centre in Siassi LLG of Tewai-Siassi District Morobe Province. Tewai-Siassi MP Dr. Kobby Bomareo visited Semo Health Centre over the weekend and was impressed with the progress of work. The main outpatient and priority building is a steel structure funded by the Tewai-Siassi District Development Authority. Semo Health Centre is run by the government and serves thousands of people in the Kovai area of Siassi. “This will be a five years upgrade starting with the fencing and main outpatient building and will continue until 2026,” said…
The current nutrition situation in Asia and the Pacific is difficult in many areas across the region. About 40 percent of its inhabitants cannot afford a healthy diet, and in some areas the fight against hunger has seen reversals rather than advances. Progress toward meeting the Sustainable Development Goals (SDGs) of defeating both poverty (SDG 1) and hunger (SDG 2) has been thrown off track amid the COVID-19 pandemic, which has devastated both lives and livelihoods. Luckily, the picture is not all bleak and there are signs of optimism and dynamism. Advances in the region’s agrifood systems are changing the…