Business, resources & economy Feed

Our country is being taken away from us

ShopsSCOTT WAIDE
| My Land, My Country

LAE - How much of the economy do we own? All the prime shop spaces in our towns and cities are owned by foreigners.

Can we easily get financing for a business? No. If we do get it, are the terms PNG-customer friendly? No. And shop space rentals are unaffordable.

Continue reading "Our country is being taken away from us" »


A solution is available to a run-down Fly

Mouth_of_the_Fly_River
Mouth of the Fly River

STEPHEN CHARTERIS

BANGKOK - I read with interest Professor Howes' assessment of the huge disparity in the provision of services between communities in the Torres Strait Islands and the Middle and South Fly Districts in PNG.

I had the good fortune to visit and work with many communities in Middle and South Fly in 2006 and between 2009-2014 and offer these thoughts.

Continue reading "A solution is available to a run-down Fly" »


Marape’s new approach to foreign investment

Lihir
PNG's Lihir gold mine

RONALD MAY
| Pearls & Irritations | Edited extracts

You can link here to the full article

CANBERRA - The Marape government’s approach to foreign investment – and to governance generally – marks a significant, and welcome, shift away from the sometimes dubious deal-making that marked his predecessor’s approach.

In May 2019 James Marape succeeded Peter O’Neill as prime minister of Papua New Guinea. O’Neill had been under pressure for some time, over allegations of corruption and of his handling of issues associated with major resource projects and foreign borrowing.

Continue reading "Marape’s new approach to foreign investment" »


Toroama wants youth to move into enterprise

Toroama
President Toroama encouraged young Bougainvilleans to use their innovative ability to find solutions to problems

ANTHONY KAYBING
| Office of the President

BUKA - The Autonomous Bougainville Government is to embark on a program of creating youth employment opportunities through small to medium enterprises (SMEs).

President Ishmael Toroama said this week that youth capacity building and leadership are a focus of his government, saying they are a good way of encouraging local enterprise.

Continue reading "Toroama wants youth to move into enterprise" »


Barrick using Oz law to sue PNG over Porgera

Barrick_protests
Barrick Ltd is using a treaty between PNG and Australia to claim compensation for PNG's refusal to grant an extension of its expired lease at the Porgera gold mine

PATRICIA RANALD
| Michael West Media | Extracts

SYDNEY - After 30 years extracting gold, committing environmental and human rights abuses, the operator of Porgera mine is suing the PNG government for not extending its licence.

It is using an Investor State Dispute Settlement (ISDS) clause in a Free Trade Agreement to sue, a clause made famous when US multinational Philip Morris tried to sue Australia over its tobacco plain packaging laws.

Continue reading "Barrick using Oz law to sue PNG over Porgera" »


Lupari said to have demanded payment from Paladin

Lupari
Isaac Lupari’s alleged financial dealings with Paladin raised in Australian parliament

RICHARD BAKER
| The Sunday Age

CANBERRA - The chief secretary of the Papua New Guinea government, Sir Isaac Lupari, allegedly approached a director of controversial Australian immigration detention contractor Paladin for financial support, according to evidence provided to a Senate committee in Canberra.

Sir Isaac is one of PNG’s most experienced officials and is perhaps the second most senior figure in the government behind Prime Minister James Marape.

Continue reading "Lupari said to have demanded payment from Paladin" »


Virus’s huge impact on PNG small business

SmeHUGH MCCLURE
| Asia & the Pacific Policy Society | Edited extract

CANBERRA - Two-thirds of Papua New Guinea’s small and medium-sized businesses have been forced to close their doors as a result of Covid-19.

PNG has had a tapered increase in Covid-19 cases, with 578 cases and seven deaths now recorded amidst low testing numbers.

Continue reading "Virus’s huge impact on PNG small business" »


Frieda mine plan ‘disregards human rights'

Ban mineLYANNE TOGIBA & BEN DOHERTY
| The Guardian | Judith Nielson Institute

PORT MORESBY - The plan for the largest mine in Papua New Guinea’s history carries a risk of catastrophic loss of life and environmental destruction and “appears to disregard the human rights of those affected”, according to United Nations officials.

In an extraordinary intervention, 10 UN special rapporteurs have written with “serious concerns” to the governments of Papua New Guinea, Australia, China, and Canada, as well as the Chinese state-owned developers of the gold, copper and silver mine proposed for the remote Frieda river in the country’s north.

Continue reading "Frieda mine plan ‘disregards human rights'" »


Women’s business coalition focuses on leadership

BCFWEVONNE KENNEDY
Business Coalition for Women Newsletter

PORT MORESBY - This year our organisation has focused on expanding the support we can provide to encourage women in leadership.

We have done this by increasing varied training opportunities for women, they include our Certificate IV in Leadership and Management, the Senior Executive Women Program and the PNG Directorship Course, which we’ve partnered with reputable companies to provide.

Continue reading "Women’s business coalition focuses on leadership" »


Working towards a digital revolution

DigitalHARRY KRETCHMER
| World Economic Forum

COLOGNY, SWITZERLAND - Papua New Guinea is one of the most challenging parts of the world to run a digital business. But this is changing.

Prime Minister James Marape is leading a digital transformation agenda that aims to harness the potential of technology to spur development and trade.

Continue reading "Working towards a digital revolution" »


Take heed, they’ll exploit you if they can

CapitalismCHRIS OVERLAND

ADELAIDE - The situation with respect to Australia’s seasonal workers, deplorable as it is, simply reflects the truth about the so-called ‘gig economy’ that has now been created here and elsewhere in the world.

It is a form of economy that would be immediately recognisable to, say, Charles Dickens or Karl Marx, because its essential characteristics are not dissimilar to those of many workers in the mid-19th century.

Continue reading "Take heed, they’ll exploit you if they can" »


Despite rhetoric, informal economy struggles

Wenogo - Deputy PM Davis Steven
Despite the deputy prime minister launching reform recommendations, PNG's informal economy continues to struggle

BUSA JEREMIAH WENOGO

PORT MORESBY - When the first audit of Papua New Guinea’s informal economy was launched in 2019, it generated a sense of optimism for the future of this important sector of the nation’s economy.

But a year later, despite legislation and policy encouraging the growth of the informal economy, its participants remain voiceless – and depressed.

The informal economy is estimated to involve 75% of the PNG population.

Continue reading "Despite rhetoric, informal economy struggles" »


Maintaining the Kurai legacy

Paul beside yar tree
The lineage is strong - Paul Kurai in front of the yar tree at Ela Beach in Port Moresby which his father is said to have planted during colonial times

DANIEL KUMBON

WABAG - Paul Kiap Kurai is probably among just a few Highlands businessman, if not the only one, who has given away a successful business entity to a clansman on a golden platter.

He gave the Neneo Construction company to his Kamainwan people of Kaiap as a gift so they too would benefit from the proceeds of his blessings.

It was an action rarely seen in competitive Highlands society.

Continue reading "Maintaining the Kurai legacy" »


Living with Rio Tinto’s deadly legacy

Woman-panning
Woman panning for gold in Bougainville

NEWS DESK
| Human Rights Law Centre

MELBOURNE - Mining giant Rio Tinto is responsible for multiple human rights violations caused by pollution from its former mine in Bougainville.

For 45 years, the Panguna copper and gold mine on the island of Bougainville was majority-owned by the British-Australian mining company, but in 2016 Rio Tinto divested from the mine, leaving behind more than a billion tonnes of mine waste.

Continue reading "Living with Rio Tinto’s deadly legacy" »


Whose side is the Chamber of Mines on?

Area map
Kuimas project area map

STANLEY ARURU PUNDIYE
| CEO, Kuimas Minerals Company Ltd

PORT MORESBY - While the Chamber of Mines and Petroleum pleads with the Papua New Guinea government to postpone reforms to the mining act, issues affecting resource owners are being ignored.

The changes to the mining act are being addressed by parliament to fix possible issues that may affect foreign investors.

Continue reading "Whose side is the Chamber of Mines on?" »


PNG’s job crisis & Covid-19

Formal sector employment in PNG  2013-20
The dramatic decline in formal sector employment in PNG,  2013-20

STEPHEN HOWES & JOTAM SINOPANE
| DevPolicy Blog

CANBERRA - There is no doubt Covid-19 is causing great economic damage all round the world, and Papua New Guinea is no exception.

One estimate from the PNG Trade Union Congress is that more than 10,000 jobs in the private sector have been lost due to the pandemic and the subsequent state of emergency.

Continue reading "PNG’s job crisis & Covid-19" »


PNG missing out on gold 'explosion'

Namah
Belden Namah - "The Marape government has totally failed the people at a time when they need their government the most"

BELDEN NAMAH MP
| Leader of the PNG Opposition

PORT MORESBY - The price of gold has taken off around the world as the Covid-19 pandemic pushes investors to turn away from currencies to buy gold but PNG is missing out because of the continued closure of Porgera gold mine.

The government of prime minister James Marape is fully responsible for this loss of revenue because of its decision to refuse an extension of the special mining lease to Canadian miner Barrick and the protracted court proceedings that have resulted.

Continue reading "PNG missing out on gold 'explosion'" »


Mine waste debate divides Huon people

Huon dumpingSCOTT WAIDE
| My Land, My Country

LAE - Papua New Guinea’s environment minister has tried to ease tensions over the proposal to dump mine waste into Huon Gulf in Morobe Province.

Wera Mori says it has not been decided if tailings from the K17 billion Wafi-Golpu project will be disposed using deep sea tailing. But he also admitted that the construction of a tailings dam is not part of the plan.

Continue reading "Mine waste debate divides Huon people" »


Eaglewood – friendly PNG villagers ripped off again

Eaglewood Collectors
Eaglewood collectors. They do not know the true value of this highly sought after wood and are ripped off by unscrupulous traders

PHILIP FITZPATRICK

TUMBY BAY - In 2012 I was trekking through the hills north of Amau in the Central Province carrying out a social mapping study.

I overnighted in several small villages and hamlets staying in local houses and enjoying the hospitality of the owners. Sitting around a fire in the evening is a great way to collect social mapping data.

A popular topic of conversation at the time was garahu or eaglewood. This was something completely new to me and I pricked up my ears.

Continue reading "Eaglewood – friendly PNG villagers ripped off again" »


The finding of Ok Tedi

Ok-tedi-aerial-2
"Young came to have more profound impact on the Wopkaimin than any previous colonial administrative or army patrol. He made ethnographic observations but more importantly recorded that the streams seemed to contain copper deposits"

COL YOUNG

EX KIAP WEBSITE - I have often meant to write of my 24 day patrol to the Star Mountains (Wopkaimin) in August and September of 1966 and the finding of copper sulphate presence in that remote north western corner of the then Western District.

There has been some confusion as to who first discovered evidence of copper leading to the Ok Tedi venture, hence this article.

Continue reading "The finding of Ok Tedi" »


New mining act poses economic threat

HlineSTANLEY PUNDIYE

PORT MORESBY – A month ago, on Wednesday 17 June, the Papua New Guinea parliament passed a mining amendment bill suppressing the participation of landowners in the development of PNG mineral resources projects and promoting the participation of the State.

The bill provides a legal basis for the government and foreign investors to take their cut of the pie but the position of landowners’ equity is not very clear.

Continue reading "New mining act poses economic threat" »


Covid-19 & the urban poor

Street stall
Morata street stall

EDDIE TANAGO PAINE

PORT MORESBY - On the eve of Papua New Guinea’s state of emergency shut down, little did informal vendors know how this sudden decision would snap their daily livelihoods.

While the state of emergency was a crucial measure to prevent the spread of the virus, the restrictions imposed had a devastating impact on the majority of urban people.

Continue reading "Covid-19 & the urban poor" »


Oz gold industry goes on trial

GV sign (AFR)
A billboard advertising Justin Parker's company, Golden Valley (Australian Financial Review)

ANGUS GRIGG
| National Affairs Correspondent | The Australian Financial Review

SYDNEY - The lockdown has been good to gold. Since early February it has rallied more than 10% as investors predictably sought shelter in the precious metal during these uncertain economic times.

But some of that sheen has come off this rally in recent days after The Australian Financial Review revealed industry standards around ethical sourcing, or ‘conflict gold’, were hollow at best.

Continue reading "Oz gold industry goes on trial" »


Gold stolen on a massive scale

Alluvial gold miners  Dantanai  Kieta District.
Alluvial gold miners,  Dantanai,  Kieta District. A Human Rights Watch investigation found illegal artisanal gold miners around Porgera routinely use mercury,  a poison which has had significant health impacts on both miners and their families

SAM JAY KAUPA

The unlawful extraction and export of gold is a scandal in both Papua New Guinea and Australia. Among the major beneficiaries, it seems from a recent investigation by the Australian Financial Review, even the respectable institution, the Perth Mint. Sam Jay Kaupa is an experienced mining engineer and manager with extensive domestic and international experience - KJ

PORT MORESBY - There is a question people need to ask. Why can’t the central bank of Papua New Guinea buy gold to curb smuggling and build reserves to stabilise the plummeting kina?

The mining sector accounts for about 9% of GDP and the overall resources sector contributes about 26% of GDP. This will continue to rise with the current demand for cobalt, a by-product of the precipitate from Ramu Nickel.

Continue reading "Gold stolen on a massive scale" »


Concerns over Chinese bid for Digicel

DigicelDURRANT PATE
| Jamaica Observer

KINGSTON, JAMAICA - Speculation that mobile phone operator Digicel is considering selling the Papua New Guinea business considered the jewel in the financially troubled telecoms empire has sparked concern within PNG over Beijing's growing influence.

The Digicel conglomerate surprised many of its users in PNG by filing bankruptcy proceedings in May in Bermuda and the United States, where it owes billions of dollars to bond holders who invested in the company some years ago.

Continue reading "Concerns over Chinese bid for Digicel" »


Our systems worked, so what happened?

Rubber stationSCOTT WAIDE
| My Land, My Country

LAE - We have to get this right if we are to thrive in this country.

The quality of transport infrastructure – especially roads and bridges – determines the price of food.

Apart from consumption, this single factor influences the rate of supply and demand to a large extent.

Continue reading "Our systems worked, so what happened?" »


Frieda mine ban campaign steps up

RiverEMMANUEL PENI
| Coordinator, Project Sepik

SEPIK RIVER – An historic customary declaration has been issued to the Papua New Guinea government by the spiritual guardians of the Sepik River, the customary clan leaders.

The Supreme Sukundimi Declaration calls for a complete ban on the proposed Frieda River mine, which would be the largest mine in PNG history.

Continue reading "Frieda mine ban campaign steps up" »


Final agreement after 20 years

20 Years 1
Chairman of the Angore landowners Hari John Akipe (centre) with the team at Ambua Lodge before heading to Undupi village for the signing ceremony. The Tari valley is in the background

ALEXANDER NARA

PORT MORESBY - It was a little past four o’clock that Sunday afternoon when we arrived at Ambua Lodge, nestled amongst the Doma Peaks near Tari town in Hela Province.

The light drizzle that seemed to have followed us from Mt Hagen had ceased and the gravel car park was wet and soft. Around it the trees were wreathed with thick leaves and green moss.

Continue reading "Final agreement after 20 years" »


Forest loss increases violence against women

Roadblock_westpomio_rimbunan hijau
Road block at West Pomio in New Britain mounted by villagers opposing logging by Rimbunan Hijau

JOHN C CANNON
| Mongabay | Extract

Link here to the complete article by John Cannon

POMIO - Change. That's what Monica Yongol has seen in her 54 years.

In that time, the loggers and then the oil palm companies have moved into the remote corner of Papua New Guinea where she raised her family, altering the contours of the society she knew.

Continue reading "Forest loss increases violence against women" »


A solution to the Porgera impasse

Porgera mine
Porgera gold and silver mine (Barrick)

SIMON DAVIDSON

KOKOPO – The Porgera mine is a large gold and silver mining operation in Enga province, Papua New Guinea located at the head of the Porgera Valley at an altitude of about 2,500 meters. The region is noted for its high rainfall, landslides and frequent earthquakes.

The mine is operated by the Porgera Joint Venture (PJV) and began production in 1990. It is now owned by Barrick Gold Corporation of Canada and the Zijin Mining Group of China with local landowners having a small stake.

Continue reading "A solution to the Porgera impasse" »


James Marape - a year in review

James Marape speaking
James Marape - over the last 12 months Papua New Guineans have witnessed the depth of his vision

RAMOI BIAK

WEWAK - Twelve months ago who would have predicted  the rise of a much under-rated James Marape as the eighth prime minister of Papua New Guinea putting an end to eight tumultuous years by Peter O’Neill and his Peoples National Congress Party.

Marape continues to intrigue and surprise us with the array of tools he is deploying from the Pandora’s box of politics.

Continue reading "James Marape - a year in review" »


Call for apology from Barrick

Philip-Undialu
Hela Governor Philip Undialu - "The international community will soon know who is telling the truth"

HON PHILIP AJA UNDIALU MP
| Governor of Hela Province | Edited

TARI – There was no need for the Papua New Guinea government to have any advance negotiations with Barrick before the decision not to renew the Porgera Joint Venture lease.

Any negotiation held prior to the decision would have seen as preemptive of the decision and would have been in breach of the Mining Act, which would have attracted legal implications.

Continue reading "Call for apology from Barrick" »


Vanilla: PNG’s little known world-class industry

Vanilla-flowerAMY TORI
| Prague Post | Edited extract

PRAGUE –Founded by Dan Edmiston in August 2017, the Native Vanilla company brings top-quality vanilla products to market that are organically farmed and sustainably sourced from rural growers in Papua New Guinea.

Edmiston found himself back in PNG after a long absence from his childhood home when he identified a need to help micro-farmers get a fair price for their vanilla beans as well as the need to produce a high-quality dry-cured vanilla bean for global markets.

Continue reading "Vanilla: PNG’s little known world-class industry" »


Ambunti, Porgera & the need for give & take

Beautiful Ambunti  right on the Sepik River
Beautiful Ambunti right on the Sepik River

ERIC SCHERING

KALAMAZOO, USA – Along with my wife Penny, I have served with Pacific Island Ministries in East Sepik Province between 1980 and 1985 and from 2005 until the present.

Pacific Island Ministries was founded in Ambunti, the largest town on the Sepik River, in 1977.

From the get–go a priority was to listen to the locals about what kind of help they wanted.

Continue reading "Ambunti, Porgera & the need for give & take" »


How we became trapped by capitalism

B&w Overland hlineCHRIS OVERLAND

ADELAIDE - Neo-liberal capitalism has taken over our lives by stealth.

I date its rise from the realisation that ordinary citizens could be offered easy access to credit, whereby the perceived actuarial risk involved was largely mitigated by the sheer numbers of people who used credit cards and similar facilities.

Continue reading "How we became trapped by capitalism" »


Marape must negotiate on Porgera

PJV gold mine west of Porgera
The Barrick-Zijin joint venture gold and silver mine situated west of Porgera

ERIC SCHERING

KALAMAZOO, USA – In late April, on the advice of Papua New Guinea’s national executive council, prime minister James Marape declined the request of the Porgera Joint Venture to extend its mining lease by 20 years.

The government made it clear to the Barrick-Zijin syndicate that the PNG government would take control of the mine and it was time for the partners to come up with an exit plan.

Continue reading "Marape must negotiate on Porgera" »


PNG heading for recession, say forecasts

PNG's rising debt (ANZ)
PNG's rising debt (ANZ)

DAVID JAMES
| Business Advantage PNG | Edited extracts

PORT MORESBY - Economists are forecasting a recession in Papua New Guinea in 2020 as the country struggles to deal with the global crisis caused by the outbreak of the COVID-19 virus.

The ratings agency Standard & Poor’s has also downgraded the country’s debt.

Continue reading "PNG heading for recession, say forecasts" »


What next for Porgera's gold mine ?

Penny and Eric Schering
Penny and  Eric Schering and friends. The Scherings split their time working with Pacific Island Ministries in PNG and the USA

ERIC SCHERING

KALAMAZOO, USA - Last week was a biggie for the Porgera Joint Venture (PJV) in Papua New Guinea’s Enga Province, one of the largest gold mines in the world.

A stir has been brewing about whether prime minister James Marape is justified in refusing PJV’s request for a 20 year lease extension.

Continue reading "What next for Porgera's gold mine ?" »


PNG’s Covid-19 economic response

KinaDEK JOE SUM, MAHOLOPA LAVEIL
& STEPHEN HOWES
| DevPolicy Blog

CANBERRA - The key problem facing Papua New Guinea in formulating a response to Covid-19 has been well explained by the country’s Treasurer.

PNG’s government went into 2020 planning the biggest deficit it has ever run, some K4.6 billion in net borrowing. Now, with Covid-19, it faces a revenue hole estimated at K2 billion.

Continue reading "PNG’s Covid-19 economic response" »


More dialogue needed on Porgera

Porgera mine
Porgera gold and silver mine

PAUL BARKER
| Business Advantage PNG

PORT MORESBY - There will be repercussions from the Papua New Guinea government’s decision not to renew the special mining lease on the Porgera gold mine.

The Porgera valley is a very complex place, with communities long vying for control. Anyone treading in it should do so lightly, with thorough consultation and knowledge of that situation and avoiding disruption.

Continue reading "More dialogue needed on Porgera" »


PNG’s Covid-19 economic response

KokiDEK JOE SUM, MAHOLOPA LAVEIL
& STEPHEN HOWES
| DevPolicy Blog

CANBERRA - The Covid-19 pandemic could not have arrived at a worse time for Papua New Guinea.

In addition to its declining health indicators, years of mismanagement have significantly weakened the country’s economic fundamentals, depriving its government of the ammunition needed to combat a looming economic downturn.

Continue reading "PNG’s Covid-19 economic response" »


Hey Rio! Get back & fix your mess

Jaba-river
How Rio Tinto left the once pristine Jaba River - now a toxic 40 km drain to the coast

KEITH JACKSON

NOOSA - The Human Rights Law Centre in Melbourne has said Rio Tinto Ltd should fund an investigation of health and safety issues and clean up the environmental mess from the Panguna copper and gold mine in the 20 years from 1970 to 1990.

It says the review would be a starting point for compensation talks and negotiations about rehabilitating the old minesite at Panguna and nearby waterways including the ruined Jaba River.

Continue reading "Hey Rio! Get back & fix your mess" »


Informal economy needs virus protection

Market
Street market - a large part of Papua New Guinea's daily trade and commerce relies on the informal economy

BUSA JEREMIAH WENOGO

PORT MORESBY - As the spread of coronavirus claims thousands of lives throughout the world it has also brought economic hardship to many countries.

Businesses and governments face a bleak future with economic activities shutting down and the movement of people becoming more restrictive.

In Papua New Guinea the government recently introduced a state of emergency after a foreign mine worker travelling to PNG’s second biggest city Lae tested positive for the virus.

Continue reading "Informal economy needs virus protection" »


Coronavirus threatens PNG economy

Coronavirus-map
The spread of coronoavirus seems to have spared PNG so far, but nevertheless the economy will suffer a big hit

SCOTT WAIDE
| EMTV | Extracts

LAE - Papua New Guinea may need to review its economic outlook for the medium term as global economies contend with the wide-ranging impacts of coronavirus.

While Papua New Guineans have been debating the preparedness of the health system, and bracing for a possible outbreak, the economic burden brought on by the global pandemic could further cripple efforts to contain the spread of the disease.

Continue reading "Coronavirus threatens PNG economy" »


O’Neill’s K37 billion debt legacy

Ian Ling-StuckeyIAN LING-STUCKEY | Edited

PORT MORESBY - When Peter O’Neill came to power in 2012, Papua New Guinea’s debt was K8.5 billion. When he left in 2019, the figure was K37.6 billion.

So the debt was 4.4 times larger after only seven years. K29.1 billion larger. Not double, not triple, not even quadruple – an extraordinary 4.43 times larger.

Continue reading "O’Neill’s K37 billion debt legacy" »


LNG negotiations hit wall

Png energy productionPRIYANKA CHOUDHARY
| Rystad Energy | Edited

OSLO, NORWAY - The decision by the government of Papua New Guinea to halt talks with ExxonMobil about the state’s share of revenues from the planned P’nyang gas field development is set to delay two key liquefied natural gas projects that would double the country’s gas output.

The two projects, Total’s $13-14 billion Papua LNG investment and ExxonMobil’s subsequent PNG LNG Expansion plan, are located close to each other and could save the firms up to $3 billion in shared infrastructure synergies through a combined development.

Continue reading "LNG negotiations hit wall" »


Barrick supports new revenue initiative

Barrick forwards pays taxIAN LING-STUCKEY

PORT MORESBY – I commend Barrick Niugini Limited for contributing K59.3 million to the national government as a forward payment of its taxes.

This is a second example of a major business being willing to pay its taxes early and follows on the example of British American Tobacco in bringing forward K250 million in excise collections.

Continue reading "Barrick supports new revenue initiative" »


Forward tax pay helps PNG budget

Ian Ling-Stuckey (right centre) and staff celebrate six months of hard work
Ian Ling-Stuckey (centre right) and staff celebrate six months of hard work rescuing the PNG economy, including the development of the forward pay tax concept

MARTYN NAMORONG

PORT MORESBY - Friday marked six months since Ian Ling-Stuckey came into office as Papua New Guinea’s Treasurer.

Ling-Stuckey has delivered an economic rescue plan for PNG which will be monitored by an independent umpire, the International Monetary Fund.

IMF and its staff will be making sure the PNG government keeps its promises to rescue Papua New Guineans from O'Neill's deep economic hole.

Continue reading "Forward tax pay helps PNG budget" »