Papua New Guinea’s Cabinet gets a major reshuffle, the United States withdraws from the Paris Agreement, and over 5000 companies in PNG could have been put on notice for not filling their annual returns. Your weekly digest of business news.

Cabinet announcement on 8 November 2019. Credit: EMTV/Facebook

On Friday PNG’s Prime Minister James Marape announced major changes to Cabinet at the Government House in Port Moresby. After the announcement and swearing-in ceremony, the Ministers are:

Rainbo Paita – Minister for Finance and Rural Development

Patrick Pruaitch – Minister for Foreign Affairs and Trade

William Duma – Minister for Commerce and Industry

Timothy Masiu – Minister for Communication

Jelta Wong – Minister for Health and HIV/AIDS

Geoffery Kama – Minister Labour and Industrial Relations

Soroi Eoa – Minister for Public Service

Wesley Nukundj – Minister for Immigatrion and Border Security

Wera Mori – Minister for Environment and Conservation

The decommissioned ministers are: Elias Kapavore, Petrus Thomas, Alfred Manase and Charles Abel. (EMTV)

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The United States has withdrawn from the Paris Agreement, a controversial move that the Chair of the Pacific Islands Forum, Prime Minister of Tuvalu, Kausea Natano, said will undermine the influence and credibility of the North American country in the region. Natano said: ‘In the Post-war period, America has often played a leadership role in supporting multilateralism and promoting a global rules-based system to enable collective responses to international problems. It is disappointing to see this ethos fade and falter when we need it the most.

‘As stated in the Kainaki II Declaration made by Forum Leaders here in Tuvalu, the shared prosperity of our Blue Pacific continent can only safely exist if the international community pursues efforts to limit warming to 1.5° C, as set out in the Paris Agreement. The science is non-negotiable.’ (Pacific Island Forum Chair Statement on US withdrawal from Paris Agreement)

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Over 5000 companies in PNG have been put on notice for not filing in their annual returns since 2000, reports the Investment Promotion Authority (IPA). The IPA will deregister the companies if they do not comply by the end of November,  and has made public a list of non-compliant companies on its website as part of a campaign to draw awareness to this exercise. A final list of those who failed to comply will be published again in December. Deregistered companies will need to apply for reinstatement if they want to continue to do business in PNG. (IPA) 

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Puma Energy petrol station. Credit: Puma Energy

The Independent Consumer and Competition Commission (ICCC) announced a decrease in fuel prices for the month of November. The decrease is attributed to an increase in crude oil supplies. The maximum retail fuel prices in PNG as reported by the Post-Courier are:

Petrol K3.48 per litre

Diesel K3.23 per litre

Kerosene K2.94 per litre

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Air Niugini confirmed the company has halted the order for four Boeing 737 Max aircraft that were scheduled to be delivered in 2020 and 2021. Alan Milne, Air Niugini’s Managing Director, said Brazil’s Embraer and Airbus are being considered as replacements. ‘The decision will be based on the numbers. The aeroplanes needs to meet our mission and the price has to be competitive to purchase them.’ (Post-Courier)

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A K300 million market and fisheries facility in Alotau, Milne Bay, is set to be completed in May 2020. The Japanese Government has allocated K33 million for this project, which includes kiosks, ATM facilities, an amphitheatre, aquarium and a first aid service area. The Executive Manager of the National Fisheries Authority, John Kasu, said ‘once this is achieved, it would provide the impetus for development and growth in aquaculture, inland, coastal and inshore fisheries while at the same time putting in place necessary basic support and infrastructure.’ (The National)

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The Immigration and Citizenship Authority (ICA) introduced an online payment portal which allows companies and individuals to pay electronically for visas, passports, citizenship and other migration-related fees. (EMTV)

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Link PNG CEO Captain Daniel Wanma

Air Niugini’s subsidiary, Link PNG, is scheduled to start commercial passenger flights to Komo airport in Hela on 19 November. The return flights will operate on Tuesdays and Thursdays from Port Moresby to Komo. (Air Niugini)

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The K30 million market at Gordons in Port Moresby has opened for business. The National Capital District Commission (NCDC) estimates that 1292 vendors will use the facility. Only those registered with the Vendors Association will be able to sell their products. The NCDC Market Division has set prices of K5 a table per day (K35 per week). (Post-Courier)

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Photograph of the week

7 Mile development in Port Moresby. Credit: AHS

The Lihir-based company Anitua Housing Solutions (AHS) celebrated last week the completion of the housing project development at Kennedy Estate, 7-Mile, in Port Moresby. The 158 house project started in 2015 as a joint venture between Anitua and an Australian owned entity but after delays associated with material supply and approvals, Anitua decided to fly solo and bought out the entity.

The first set of keys was handed over last week and AHS Site Manager Tyrrell Maring said: ‘The estate has been a collaborative effort between multiple stakeholders and can now be called a success.  Very importantly, before the end of the year AHS will fulfil long overdue promises to another 70 homeowners by getting them in to their homes to celebrate Christmas.’