Prime Minister Marape pledges to stimulate the growth of the MSME sector, K2 billion budget shortfall, and Eda Ranu regains control the Mt Eriama sewage and water treatment plant. Your weekly digest of business news.

Prime Minister James Marape spoke at the World MSME Day last week and said the government will ‘remove impediments and stimulate growth’ of the micro, small and medium enterprise sector. ‘We have a small economy and a small tax paying base and so the need to make interventions in MSME is important for us to grow the economy.’ (The National)

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Last week, PNG’s new Minister for Finance and former Treasurer, Charles Abel, reportedly said that there is a 2 billion kina revenue gap in the 2019 budget. (Post-Courier)

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After 22 years with the concessionaire contractor Malaysian Consortium PNG Water Ltd, the Mt Eriama sewage and water treatment plant is now controlled by the government entity Eda Ranu. Mt Eriama provides water to Port Moresby. (Post-Courier)

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Jim Collings, Puma Energy’s Director/Country Manager, reportedly said that local small and medium enterprises run 99 per cent of the company’s retail outlets. He also said Puma LPG business ‘has in the last two years delivered 350 SMEs through our dealers and re-sellers.’ (The National)

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The Papua New Guinea Human Resource Institute (PNGHR) has awarded the ‘2018 Best Public Sector Organisation Award’ to the Internal Revenue Commission (IRC). This is the second time that IRC wins a PNGHR award. It was recognised as ‘Most Progressive Public Sector Employer’ in 2016. (Post-Courier)

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The Women’s Micro Bank has sold 675 direct shares at the prince of one kina to women in the National Capital District and Central provinces. The opportunity to buy and become a direct share holder of the company was given to those who were already members. (Post-Courier)

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The European Union to Papua New Guinea in cooperation with the PNG Department of Monitoring and Planning have launched the documentary EU-PNG 40 Years of Partnership, which highlights important projects and initiatives developed by the European Union in PNG over the last 40 years. (EMTV)

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The New Ireland provincial government (NIPG), the Nimamar local level government (NLLG) as well as the traditional block owners of the special mining lease (SML) area received more than K17.73 million in royalty from Lihir Gold Limited (LGL) for the 2019 March Quarter. The Post-Courier reports that, between June 1997 and March 2019, LGL has paid K378 million to the NIPG, K226 million to the NLLG, and K151 million to the SML block owners. (Post-Courier)

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The building and construction company Hornibrook has join forces with the landowner company HP Construction to do a major upgrade of the Hela provincial jail at Hawa. The project includes building a perimeter fence and staff houses for correctional staff. (Post-Courier)

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PNG Motors has opened a new, state-of-the-art showroom in East Britain Province. The showroom is in Kokopo, which is becoming a tourism hub in the country. (Post-Courier)

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Last week, the Papua New Guinea Refrigeration and Air Conditioning Association was set up in the country. Its mission is to ‘ensure licensed technicians and their companies follow the rules set up by the Conservation and Environment Protection Authority’. PNGRACA’s president is Daniel Geoghegan. (The National)

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The Waramai Ikinem Lodge has opened in Chuave, Chimbu. The 2.5 million lodge offers single, executive and self-contained bedrooms and it is situated on the banks of the Waramai River. (The National)

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KINA Asset Management Ltd (KAML) has generated a net profit after tax of K199 million, said its Chairman, Rabbie Namaliu, last week in Port Moresby during the company’s annual general meeting. The company, according to Namaliu, delivered a total investment return of 2.2 per cent. (The National)

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CBL Ltd has opened its second shopping mall in Kundiawa, in Chimbu Province. It is a four-level building that replaces the one that burned down in 2017. (The National)

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PNG Customs Services has introduced a new web-based system to ‘facilitate the clearance of goods’. PNGCS reportedly said that ‘all customs related transactions that include the reporting of cargo manifest, clearance of goods and payment of duties/taxes have all been automated.’ (The National)

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Photograph of the week

Volunteers after participating in an ocean clean up program. Credit: Ocean Voyages Institute/ABC

Volunteers with the non-profit group Ocean Voyages Institute have removed about 40 tonnes of fishing nets and two tonnes of plastic trash from the Great Pacific Garbage Patch.

The plastic has been donated to artists in Honolulu, Hawaii, so that they can transform it into artwork to educate people about the perils of plastic pollution. The rest, according to the ABC, ‘has been turned over to a zero-emissions plant that will incinerate it and turn it into energy.’ (ABC)