The Pro-Active Voice of the Morobe Business Sector

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PriceWaterhouseCoopers Tax Alert: IRC penalty regime

As the IRC continues to transition to its new SIGTAS platform they have advised that they will commence strict enforcement of the existing penalty rules for late payment of tax  and late lodgement of returns and other documents. The IRC have acknowledged that penalty rules have not been properly applied in the past but their new system will automatically issue penalties for late payment and late lodgement. This means that taxpayers will need to put

Appeal for Cyclone Ita disaster in Milne Bay

An appeal for victims and communities affected by Cyclone ITA in Milne Bay three weeks ago was officially launched in Lae, Morobe Province on Thursday 1st May 2014. This is appeal will run for the whole month of May 2014. A Special Appeal to the Milne Bay Community residing here in Lae for; Each Milne Bay Family to donate a 10kg Bag of Rice All Working Class Individuals of Milne Bay to give K100.00 The

From the President’s Desk – Ethnic Clashes and Urban Migration

Following up on an article that appeared in the Post Courier on 16th November 2012, the LCCI wanted to report on the ethnic clashes that continue to persist today. Only some of the recommendations made by the LCCI have been addressed to date.The Morobe Provincial Government has recently and very publicly taken action to remove squatter camps in Lae, especially along the banks of the Bumbu River starting from the area behind the National Polytechnic

Meet A-Tel: Papua New Guinea’s new mobile phone company

The mobile phone company set to become Papua New Guinea’s fourth mobile phone provider says it hopes to begin operations in the third quarter of 2014, targeting areas of the country where there is currently no coverage. Awal Telecommunications of Saudi Arabia was awarded individual Network Gateway Services, Application and Network licences in a deal worth more than $US260 million (K790 million) at a low-key event in Dubai early last month. The licences run for

Life after the LNG Construction Boom

BUSINESSES in PNG are adjusting to the winding down of the construction phase of the PNG LNG project. By Martyn Namorong With the project more than 95% complete, there are limited opportunities for many who once enjoyed growth as a result of the construction phase. In a March presentation to the Port Moresby Chamber of Commerce, Bank of PNG governor Loi Bakani urged the government to capitalise on the end of LNG construction. “With the

From the President’s Desk – City Services

Why is it that we have poor services in Lae? All year we have had garbage banking up because there has been no proper and continuous garbage collection system. But there are a multitude of other services that are lacking which we are entitled to: Street lights that work Residential roads maintained Footpaths properly constructed Street and drain cleaning The foreshore cleaned and protected from erosion Stray dog collection Proper maintenance of the city rubbish

World-class conference centre for Lae opened by PM

In 2012 and 2013, the Lae International Hotel was voted Papua New Guinea’s Leading Hotel at the World Travel Awards. In 2014, the hotel again achieved prominence with the opening of its new world-class Conference Centre by the Prime Minister of Papua New Guinea, the Hon. Peter O’Neill MP. At a cost of K22 million, the Conference Centre will, without doubt, establish itself as the largest conference and meeting venue in the City of Lae

2016 ‘Trade Pasifika’ to be held in PNG

The Pacific Islands Private Sector Organisation (PIPSO) has announced that the 2016 Trade Pasifika will be held in Port Moresby, Papua New Guinea (PNG). Trade Pasifika is a biennial trade show of businesses from the Pacific Island countries with the objective to offer an opportunity to grow and develop trade leads, meet and network with Pacific Island businesses and to create long-lasting relationships. The inaugural event was held in Denerau, Fiji in 2012 followed by

Bank of PNG – March 2014 Quarterly Bulletin

Bank of PNG – March 2014 Quarterly Bulletin Executive Summary Papua New Guinea’s economy continued to grow for the thirteenth consecutive year in 2013 and inflation remained below forecasts. On account of low international commodity prices and high demand for imported goods and services, the kina depreciated against the major currencies to the benefit of PNG farmers and exporters, though it has put pressure on domestic prices and prompted BPNG (the Bank) to introduce new