Papua New Guinea electrification project to start in Enga Province, Mining Act in Bougainville set for alteration, while moratorium on business visas ends. Your weekly digest of the latest business news.

Five thousand houses in Enga province will be the first to benefit from the PNG Electrification Partnership signed in November 2018. Prime Minister Peter O’Neill was quoted saying the Department of Petroleum and Energy and PNG Power Limited will spearhead the project, which will commence ‘in a few weeks time’.

It’s reported that K30 million from this year’s budget has been allocated to this project. (Post Courier)

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Amendments to Bougainville’s Mining Act will allow Caballus Company, which is headed by Perth’s Jeffrey McGlinn, to work with the Autonomous Bougainville Government to set up the Bougainville Advance Mining (BAM). (Radio NZ)

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PNG’s Prime Minister Peter O’Neill has announced that the moratorium on multiple entry business visas introduced before APEC last year is over.

‘The moratorium will now come to an end and multiple-entry business visas will be issued from our embassies, high commissions and consulates around the world,’ he told a business breakfast in Port Moresby last week. (The National)

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In its latest quarterly report, Horizon Oil Ltd has reported a calendar year gross revenue of US$139.1 million (K468 million), an increase of 88 per cent compared to 2017.

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Rural Industries Council Chairman and senior statesman Sir Brown Bai passed away last Friday. He served the government for more than 30 years.

West New Britain (WNB) Governor, Sasindran Muthuvel was quoted saying: ‘It is indeed a big loss for us in WNB and country as a whole as he is one of the most experienced senior public servants and served more than 30 years and worked as a Chief Secretary under different prime ministers.’ (Post Courier)

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The Lowy Institute’s James Batley has profiled ‘Australia’s new Pacific Czar,‘ Ewen McDonald, who will head Australia’s new Office of the Pacific.

‘Two projects in particular will require McDonald’s close attention: the rollout of Australia’s new $2 billion Infrastructure Financing Facility, and implementation of the “Papua New Guinea electrification partnership” (the agreement to work together with Japan, New Zealand and the US to connect 70% of PNG’s population to electricity by 2030),’ says Batley.

‘If these two mega-initiatives aren’t keeping McDonald awake at night, he isn’t paying enough attention.’

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More than 8,000 unemployed youths have gone through PNG’s Life Education Institute training programs. The industry-relevant courses give unemployed young people the skills needed to find permanent employment opportunities.

‘It has been confirmed that 75 per cent are direct beneficiaries with permanent employment opportunities with various companies.’ (The National)

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‘Strong recorded activity, solid employment and robust investment are consistent with brisk growth across the region,’ reports Pacific Island Invest‘s latest Business Intelligence Survey (BIS).

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The Philippines Agriculture Secretary Emmanuel Piñol and Papua New Guinea Minister for Fisheries and Marine Resources Patrick Basa have signed a memorandum of understanding to boost ‘mutual cooperation, consultation, and exchange of technical assistance in fisheries research and development.’ (The Manila Times).

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Minister for Environment Conservation and Climate Change John Pundari says an independent environmental audit on Ok Tedi mine in the Western, Porgera in Enga and Ramu Nickel in Madang will be undertaken this year. (The National)

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The Organisation of Economic Cooperation and Development (OECD) has sent two taxation experts to help PNG’s Treasury implement international tax standards and best practices. (LOOP)

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Almost a month after Cobalt 27 announced the acquisition of Highlands Pacific, a transaction that is expected to increase production in the Ramu nickel-cobalt mine, the company is currently in negotiations with PanAust for a buy back arrangement. It’s been reported that the transaction will require the approval of 75 per cent of Highlands’s shareholders. (Post Courier).

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In an open letter to Lae Chamber of Commerce members, Metro Police Superintendent, Mr Anthony Wagambie Jnr has said that 2018 saw a decrease in the numbers of serious crimes within Lae City and its outskirts. Wagambie has shared his plans for the future, including radio networking and CCTV in certain locations, among others.

Wagambie, however, is clear in saying that for his plans to come to fruition he’s seeking the assistance of Lae City’s member of parliament and local business.

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