Reduced internet costs could be expected this year, the Finschhafen District Hydropower Project advances and the Prime Minister of India visits Papua New Guinea to participate in forum.

ICT Minister, Timothy Masiu. Credit: NICTA

Last week, during the PNG celebrations for World Telecommunications and Information Society Day, the National Information and Communications Technology Authority (NICTA) introduced the Digital Government Policy 2020 and its enabling legislation, the Digital Government Act 2022.

The Minister for Information and Communication Technology, Timothy Masiu, also suggested that, given the competition between current operators (Vodafone PNG, Digicel PNG and Telikom), further price reductions in internet costs, as well as retail data and voice prices, could be a reasonable expectation this year. (NICTA)

Power

A Memorandum of Agreement (MOU) between the Finschhafen District Development Authority in Morobe Province and civil engineering and infrastructure company AG Investment to start the Finschhafen District Hydropower Project was signed last week. The MOU builds on an agreement between both parties signed in 2019. The K200 million project is estimated to provide much-needed power to this area of Morobe Province and reduce constant blackouts experienced by both residents and businesses in Lae City. (LOOP PNG)

Banking

BSP Financial Group CEO Mark Robinson has apologised for issues with its new banking system, launched over six weeks ago.

Addressing the company’s annual general meeting last Friday, he said: ‘Most of our business transitioned smoothly … unfortunately, we encountered some issues, particularly in the payments area. We are deeply sorry for the inconvenience that has caused some customers. We are working closely with impacted customers to address any remaining issues. We have been in close contact with our regulators during this period and we will undertake a third-party review to ensure that we capture the learnings from this experience.’ (BSP)

Housing

The PNG Government and the International Finance Corporation (IFC) have signed an advisory agreement for a new affordable, green housing project in Port Moresby. The project could mobilise about US$100 million (K350 million) in private investment.

For this housing project, the IFC has committed to be the lead transaction advisor and assist the Government in the process or running a transparent bidding process for a public-private partnership that will see the design, finance, construction, delivery and maintenance of 2000 single-unit family dwellings and flats for a defined period. (IFC)

Photograph of the week

Prime Minister Marape and India’s Prime Minister Narendra Modi at Jackson International Airport. Credit: Office of the Prime Minister & NEC

Prime Minister James Marape [pictured] and Deputy Prime Minister John Rosso welcomed Narendra Modi, Prime Minister of India, to Papua New Guinea on 21 May. This is the first time an Indian Prime Minister has visited PNG.

Prime Minister Modi arrived in PNG to participate in the Third Forum for India-Pacific Islands Corporation, which took place at APEC House in Port Moresby.