Call for garment and textile sector to replace imported clothes, beneficiary groups intending to petition the Government over equity in PNG LNG, solar power could be the answer to Lae’s power problems. Your weekly digest of the latest business news.

The Department of Trade’s Assistant Secretary, Richard Yakam, has queried why PNG is spending between K5–7 million annually on imported secondhand clothes. He told a garment and textile industry graduation in Port Moresby that a ‘unique design traditionally produced by our people’ is mass-produced overseas and imported into the country. The Small and Medium Enterprises Corporation Managing Director, Steven Maken, says the industry has an untapped potential of K1.8 billion in the market, and ‘is projected to increase to K3 billion-plus in the next 10 to 20 years due to population increase. This industry is a sleeping giant’.

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Resource Logistic Solution adviser Arthur Somare has said the Government should treat all beneficiary groups collectively in dealing with the contractual 4.27 per cent equity in the PNG LNG project, according to The National. The National is reporting that beneficiary groups are intending to petition the Government.

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The Director of the Institute of National Affairs, Paul Barker, has called for a ‘thorough assessment’ of the potential for Lae’s power shortages to be remedied by solar power. He points out that the ‘costs of installation are coming down fast and storage is becoming more efficient. Installation can be done rapidly; much faster than major traditional power stations.’

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Oro Province Governor, Gary Juffa

Oro Governor Gary Juffa has told the Post-Courier he will introduce a private bill into parliament to tax sugar. He says sugar kills more Papua New Guineans than tobacco and alcohol combined because of lifestyle diseases.

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Oil Search and ExxonMobil have signed an agreement to sell a 20 per cent interest in PPL 402 to Barracuda Limited, a subsidiary of Santos. Oil Search will retain a 37.5 per cent interest while ExxonMobil’s subsidiary Esso PNG Wren Limited, will retain a 42.5 per cent interest. PPL 4502 is  located about 40 kilometres northwest of the Hides gas field.

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PNG has been ranked 155 out of 188 nations in a world healthiest countries report. The ranking has been Published in The Lancet, a United Kingdom medical journal. Several Pacific Island countries ranked higher than PNG: the Federated State of Micronesia (81), Tonga (83), Fiji (95), Marshall Islands (97), Samoa (107), Kiribati (129), Vanuatu (132), and the Solomon Islands (138).

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The Kumasi bridge

PNG’s longest two lane bridge is due to be opened this week. The 285-metre bridge at Kumasi is part of the Oro Bridges Reconstruction Project, which restores four bridges destroyed by Cyclone Guba. Australia provided K139 million to complete this milestone project.

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A new transit lodge is being built at Koki Market, one of the largest markets in Port Moresby, to improve security for women vendors. Australian High Commissioner Bruce Davis said: ‘Australia is working with partners, through the UN Women Safe Cities Program to build a lodge for women and their families to stay safely overnight when they come to sell their produce.’

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The opening of Borneo Pharmaceuticals’ new pathology lab. Credit: Post Courier.

Health Minister Michael Malabag has opened PNG’s first pathology laboratory. The $3 million facility will be run by Borneo Pacific Pharmaceuticals. Staff includes a consultant pathologist, two laboratory scientists and one laboratory technician.

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PNG Air will commence commercial flights into Jayapura, Indonesia, February 1 next year, reports EMTV. The airline will run a tri-weekly service, linking Mount Hagen to Jayapura.

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The Independent Consumer and Competition Commission has approved the code share deal between Air Niugini and  Qantas for the Port Moresby-Cairns route. Meanwhile, Air Niugini has outsourced its sales office in Kieta, Bougainville, to a travel agency–the third location where sales have now been outsourced.

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Coffee Industry Corporation CEO, Charles Dambui, says the industry has earned K590 million in revenue so far this year, and expects to earn another K100 million in the last quarter of this year.

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The NFA’s John Kasu

An aquaculture training centre has opened at De La Salle Secondary School in Bomana. The National Fisheries Authority’s Managing Director John Kasu says it is part of the NFA’s objective to upskill young people.

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The President of the Madang Indigenous Business Council, Stotick Kamya, says the rise in Chinese business in the resort hub was a concern for the council but it has been able to establish contact with executives of the PNG-China Friendship Association and had made inroads with discussions with them. ‘It’s not all bad, the Chinese are very enterprising and we could learn a lot from them,’ he told the Post-Courier.

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An expanded online registry is making it easier for foreign and local business investment in Solomon Islands. Invest Solomons Director Derick Bihari says a Certificate for Foreign Investment could be issued within 24 hours, rather than the usual 10 days. The registry is funded by the NZ and Australian governments and the ADB.

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And finally, PNG has scored its first ever goal at a FIFA tournament, as they bowed out of the Under 20 Women’s World Cup with a 7-1 defeat against North Korea in Port Moresby. The goal was scored by Nicollete Ageva who calmly lifted the ball past the advancing North Korean keeper into the back of the net.