The CPL Group Limited and the Eliseo Group Limited have received their funding from the Government under phase three of the Government assistance program that helped business houses that were affected during the January 10 events or Black Wednesday. The CPL Group received K4 million, and Eliseo Group also received K4million from the Government. Acting Chief Secretary Ivan Pomaleu presented the cheques to both business houses at the Melanesian House today. Mr. Pomaleu said that the total is K8 million which is part of the K50 million that was put to assist businesses that were affected during the Black Wednesday ‘January 10, 2024’ events. “This is part of phase three (3) of the Government assistance program to businesses that lost properties, assets and business during the unfortunate events of January 10. This is the second round of payments we are releasing. The first was about K25 million which we gave to four business houses (Desh Bash Limited, Papindo Trading Company Limited, Bismillah Holdings Limited and Pypon Holdings Limited). He said phase 3 is to support those businesses whose properties were destroyed during the riots to rebuild their business properties to not only provide goods and services to the people but also to help them create employment for Papua New Guineans. “It's important just to continue to clarify that we have a working relationship with the business coalition that comprises the PNG Business Council and Port Moresby Chamber of Commerce and Industry in an operating arrangement that all claims for payments are processed, and the business coalition signs off on those claims before they come to our team here in the department to process. “We continue to encourage compliance with all business regulations so while we are indebted to companies that may have lost businesses during the riots, we must continue to be consistent in terms of our conversation and requirements relating to government compliance,” he said. Mr. Pomaleu informed the press that the total funding made available to assist businesses by the National Executive Council is K270 million. He said by the end of this round of payments, the government would have spent K101 million of the K270 million. “Phase 3 assistance is valued around K51 million and after the handing over of the cheques today, the total value paid under Phase 3 so far would be K31 million (including the K25 million paid last week). There are about four phases to government assistance. Phase one is the wage support that was paid last year to cover wages for National employees, estimated at around K8.7 million. Phase 2 is payment to businesses who qualified to get government assistance to remove debris from their properties which were destroyed. In phase 3, funding is now being made available, again to those businesses who qualify, to rebuild their business infrastructure,” he said. Mr. Pomaleu added that phase 4 will come, this is having dialogue with the businesses and commercial banks to make available concessional loans to businesses who qualify under the government assistance scheme to have access to those loan facilities.