Palm oil sector issues warning on fertiliser tax, the Ihu Special Economic Zone is launched, and SME loans total K20 million. Your  midweek news in brief.

Financial services

Bank South Pacific has so far funded 188 loans totalling more than K20 million under the government’s small-to-medium enterprises (SMEs) credit enhancement loan scheme, according to Chief Executive Officer Robin Fleming. (The National)

COVID-19

The National Pandemic Controller this week issued revised pandemic control measures, including allowing one-way travel for ‘students returning to their usual place of residence or returning to their education institution and persons returning to their usual place of residence’. (National Control Centre)

Mining and petroleum

Frontier Resources Limited has completed a geotechnical site investigation of the Saki Gold Prospect within the Tolukuma exploration lease in Central Province. The investigation was to assess the surface conditions and slope stability of proposed drill pads. (Frontier Resources)

Infrastructure

The Ihu Special Economic Zone in Kikori, Gulf Province was officially launched this week by Prime Minister James Marape. (The National)

Agriculture

The imposition of a tax on fertiliser will kill the industry, according to Chairman of the PNG Palm Oil Producers Association and New Britain Palm Oil Ltd PNG country manager Robert Nilkare. He said the oil palm industry was heavily reliant on fertiliser for maintaining soil fertility.

‘Without it, production will decline and soil fertility will degrade,’ he said. (The National)

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Ramu Agri Industries Ltd‘s workforce gathered last week to light the fires of its sugar factory boilers, an annual ceremony which marks the start of the new sugar harvest and production year. (The National)

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NGIP Agmark has opened a cocoa buying depot and ship ramp at Tinputz Station on mainland Bougainville. (Post-Courier)