The Association of Superannuation Funds of Papua New Guinea (ASFPNG) is calling for the State to repeal the K190 million Market Concentration Levy slated to be imposed on BSP Financial Group Limited (BSP) in July this year. The Levy is indexed to grow each year by 5%, affecting only BSP as the major bank in PNG. As a tax on profits, it is a tax on the shareholders and not BSP as a company. This means that the K190 million, +5% year on year, will be deducted from the dividends due to be paid to the shareholders. Over 90% of BSP’s shareholders are hardworking Papua New Guineans. Members of the three major Superannuation Funds that make up the ASFPNG own 25% of BSP shares. As a result of the new Levy, the more than 800,000 members of Nambawan Super Limited (NSL), the National Superannuation Fund (Nasfund) and Comrade Trustee Services Limited (CTSL) can expect to lose over K317 million in asset values and reduced dividends, in just the first year of the Levy’s implementation. The Funds will also lose value through their shareholding in other companies who are also significant shareholders of BSP. NSL’s over 208,000 members will lose nearly K26 million in dividends as well as an additional K131 million estimated in valuation losses from their 12% direct shares in BSP which is another major shareholder of BSP. Nasfund’s 600,000 members can expect to lose more than K21 million in dividends and over K107 million in valuation losses through their 9.7% direct BSP shares and indirectly through shareholding in other companies who are also significant shareholders of BSP. The 4,700 Defence Force members of CTSL will lose over K5 million in dividends and close to 5% in asset value with an expected K27 million in valuation losses. ASFPNG believes the Levy is contradictory to the State's efforts to improve PNG’s investment appeal to investors. In addition, BSP already meets significant tax and community service obligations. Shareholders who are impacted may force BSP to scale back on some of their market shares to fall below the Levy threshold of 40% to ensure stabilised profit and dividends. If BSP is forced to do this, then it would mean a reduction in the availability of credit in the Country. This will result in a reduction of loans being extended to regular Papua New Guineans that are looking to start up a business or even purchase a home. The Levy was conceived without any consultation with ASFPNG and as such, the repercussions on working-class Papua New Guineans and the PNG economy as a whole have been drastically understated. In the first year it is introduced, the tax of K190 million is estimated to reduce NSL and Nasfund crediting rates by 2-3% and CTSL’s crediting rate by 5%. This is a significant burden for members of the Super Funds who are the hard-working and already highly taxed workers of PNG. As the Superannuation Funds finalise their audited accounts for FY 2021, the Funds have a duty to explain to its members how their funds performed and contributions to its success or otherwise for 2021. Members will be informed that they will receive less from BSP dividend payments and consequently a lower interest rate in 2023 as a consequence of this levy. ASFPNG remains committed to supporting the State’s endeavours to raise revenue internally to aid sustainable budget repair and economic growth, however, not at the expense of our members. Without any established welfare safety net, superannuation remains the only means for most Papua New Guineans to ensure a comfortable retirement and it is the duty of the Superannuation Funds to protect their savings. ASFPNG strongly recommends the repeal of this Market Concentration Levy to rescind the aforementioned repercussions. We call on the State to continue an open dialogue with BSP and the Superannuation Funds to discuss recommendations of alternative means for increasing the State’s current revenue streams. The repeal of this Levy would not only encourage increased performance and market value of BSP but more significantly, it would address the State’s pursuits to attract investors and grow the PNG economy for the benefit of all Papua New Guineans. We reiterate, the levy is a decision that lessens the prospect for growth, investment returns and is not in the interest of our members. We respectfully ask that Government rescind this decision and look at other revenue raising options.

Trukai Industries has come forward to help villagers affected by a recent landslide in Bulolo, Morobe Province. The company has given a tonne of rice as well as storage buckets to the villagers of the Ward 4 Nami Area, to help them after their homes and food gardens were destroyed last month. Trukai Industries Marketing Manager, Maryanne Tom says the company was happy to assist communities in their time of need. “Trukai continues to be a shining example of a leading corporate citizen in PNG doing our part in the communities under our TruCare initiative. We continue to respond to our communities in their time of need especially during natural disasters and have been doing so for years. “We hope that this donation of rice and storage buckets will help the villagers who have lost everything, as they slowly rebuild their lives. The storage bucket is multipurpose and can be used to store rice, store water and other foods too”, said Mrs Tom. Ward 4 Counselor, William Beebe thanked Trukai Industries adding that this support would mean a lot to the affected villagers. “We did not expect this help but we appreciate it. This rice and buckets will go a long way to help the impacted families, most of whom are left without homes and food gardens,” said Beebe. Mr Beebe explained that the 300 families impacted by the February 19th disaster have been sheltered by nearby families of the mine village and are now slowly trying to rebuild their lives

Australia cricket legend and the greatest leg-spinner of all-time, Shane Warne, has died, aged 52. The 708-Test wicket great was found unresponsive by friends in a villa he was staying at in Koh Samui, Thailand. Warne’s management released a brief statement in the early hours of Saturday (AEDT) saying that he passed away of a suspected heart attack. “Shane was found unresponsive in his villa and despite the best efforts of medical staff, he could not be revived,” the statement reads. “The family requests privacy at this time and will provide further details in due course.” According to the Herald Sun, attempts by Warne’s close friend and associate Andrew Neophitou to revive him were unsuccessful. Neophitou was an executive producer behind the recently released documentary SHANE, which documented Warne’s rise as a controversial sporting star who enjoyed a Hollywood lifestyle. Staff at the Thai International Hospital told AFP in Bangkok that Warne’s body was taken to their facility around 6:00 pm local time (1100 GMT) from Samujana Villas, a luxury resort in the northeast of Koh Samui. It came just days after Warne had declared he was aiming to return to peak fitness again. “Operation shred has started (10 days in) and the goal by July is to get back to this shape from a few years ago! Let’s go,” he captioned a topless photograph of himself. The news is the second devastating blow for Australian cricket in 24 hours with fellow great, Rod Marsh, also dying on Friday having suffered a major heart attack last week. Just hours before his death was made public, Warne tweeted his sadness over the death of Marsh who was one of his cricket idols. Warne, credited with reviving the art of leg-spin, was part of a dominant Australian Test team in the 1990s and 2000s and helped his country win the 1999 limited-overs World Cup. Australian captain Pat Cummins, currently leading the team on a tour of Pakistan, said Warne was “a hero” to the current generation of cricketers. “The loss that we are all trying to wrap our heads around is huge,” he said in a video message. “The game was never the same after Warnie emerged, and the game will never be the same after his passing.” Warne’s inestimable impact was reflected by his inclusion in a list of the Wisden Cricketers of the 20th Century, alongside Donald Bradman, Garfield Sobers, Jack Hobbs and Viv Richards. Bursting onto the scene as a brash young player with a shock of blond hair, Warne became almost as well known for a colourful life away from cricket as he was for his exploits on the field. The first bowler to take 700 Test wickets with an assortment of leg-breaks, googlies, flippers and his own “zooters”, Warne retired from Australia duty in 2007 following a 5-0 series win at home to arch-rivals England. He played 145 Tests in total over a 15-year career, taking 708 wickets, and was also a useful lower-order batsman, with a highest Test score of 99. In addition to his international exploits, Warne also enjoyed a successful career with his Australian state side Victoria. And while his private life effectively ruled him out of captaining Australia, for all his acknowledged tactical acumen, Warne did skipper English county team Hampshire. - ‘An honour’ - Following his international retirement Warne continued to star on the Twenty20 franchise circuit, appearing for Rajasthan Royals in the Indian Premier League and his home town Melbourne Stars in Australia’s Big Bash League before quitting playing altogether. He subsequently became a highly regarded television commentator and pundit, renowned for his forthright opinions. Warne was also involved with team coaching -- most recently at London Spirit in England’s new Hundred competition -- and he worked individually too with current-day leg-spinners. Warne was divorced from wife Simone Callahan, with whom he had three children. He also had high-profile relationship with British actress Liz Hurley. India batting great Sachin Tendulkar wrote on Twitter of his ex-rival: “Shocked, stunned & miserable... Will miss you Warnie. There was never a dull moment with you around. Will always treasure our on field duels & off field banter.” Former Australia team-mate Adam Gilchirst wrote: “Numb. The highlight of my cricketing career was to keep wicket to Warnie. Best seat in the house to watch the maestro at work.” Former England Test player Kevin Pietersen, a great friend who had numerous on-pitch duels with Warne, said “#RIPKing” along with a number of crying emojis as the tributes poured in -- including from Richards and Sri Lanka’s Muralitharan Warne is survived by his three children Brooke, Summer and Jackson. SOURCE: FOX SPORTS

The University Council and Management of the premier PNG University of Technology finally responded seven (7) days after, strongly and unreservedly condemning the actions of Unitech students who harassed a colleague student of theirs, then broke and entered his room, and stole items. "This is unbecoming of highly educated students of a premier University," said Dr Ora Renagi, Vice Chancellor of the Morobe institution. Unitech Management is actively engaged in developmental programs guiding the University to a world class institute. "We are also making every effort to create a peaceful and conducive study environment for staff and students alike." Dr. Renagi said the reputation of Unitech is founded on values of high ethical standards, diversity and inclusivity, pride and passion. Unitech is drawing praise from parents and stakeholder support from Industry, multi and bi-lateral partners to grow Unitech academic capacity and this type of behavior affects the PNGUoT reputation and will be addressed. "The management will not tolerate student harassment, bullying and disrespect for one another, let alone involve in criminal activities." Unitech management has policies and codes of conduct, which staff and students have signed up to protect its reputation. "Internal investigations into the incident have begun and that our disciplinary procedures will be applied and students found guilty will be penalized accordingly. The matter of the case of damaging property and theft will be referred to the police to lay appropriate charges according to law. At this juncture, I sincerely apologize to the victim and his parents for the pathetic act by other students and will take measures to discipline the culprits," said the Vice Chancellor.

Stranded passengers from the grounded MV Ialibu were evacuated to Kimbe and Rabaul yesterday afternoon after having to shelter on Umboi Island following the incident on Tuesday night. Lutheran Shipping, the company who owns MV Ialibu evacuated the passengers using their other vessel MV Momase. National Maritime Safety Authority (NMSA) Chief Executive Officer Paul Unas said the vessel was carrying 140 passengers and 13 crews on board at the time of the incident. The vessel ran aground on Umboi Island in Siassi, Morobe Province following the flooding of its starboard engine, and strong winds and swells dragged the vessel ashore despite its captain dropping the stern anchor. Following the incident, all 140 passengers were offloaded on the Island with sufficient amount of food and were sheltered while the crew remained on board. Lutheran Shipping had engaged Pacific Towing Company (Pactow) to assist in salvage operation and is currently on the island awaiting verification of her seaworthy condition.

Prime Minister Hon. James Marape, MP has expressed deep regrets at the news of the death of Hon. William Samb, Minister for Commerce & Trade and Member for Goilala. The Prime Minister said according to information that he received from H.E Ambassador Joshua Kalinoe, Hon. Samb died at 12.18pm (UAE time) yesterday at a hospital in Dubai, United Arab Emirates. PM Marape said Hon. Samb was on official duties at the trade exposition in Dubai promoting Papua New Guinea as an investment destination in his capacity as the Minister for Commerce and Trade. PM Marape said: “Hon. Samb was a true, zealous defender of our country and our rights as far as taking back more of our natural resources is concerned. “He was one of the stalwarts of Loloata, one of the members in the group of politicians in Loloata camp, never succumbing to inducements especially short-term inducements that are associated with politics and power play. “He was steady to the core, in beliefs and principles, especially on the principles in the Loloata Camp that we shared deeply – that is getting the maximum returns on resources that our country has. “He was my strongest fighter of corruption in my group of leaders. “We have truly lost a great warrior of our country. He was a zealous defender of our people’s right in the corruption fight, in every level of engagement. He was also a fearless defender of our people’s rights, and on a personal note, one of the closest people who guided me often and sometimes argued with me on matters for our country. “On behalf of Pangu Pati and his colleagues on the floor of Parliament, we are truly shocked. But God gives and God rests. “To the people of Goilala and Central Province, his family and associates, his memory, principles and ideals will guide those of us still here to do the right thing, for his family and people of Goilala, Central Province and Papua New Guinea.”

The revised bill on the Organic Law On Integrity of Political Parties and Candidates (OLLIPAC) has not yet been passed although it has been on notice since 2020. Prime Minister James Marape said this in response to Northern Governor Garry Juffa’s question regarding the status of the Bill. “These laws were revised in 2014 unfortunately not passed and later in 2020 and again not passed,” Mr Juffa said. “The laws will definitely strengthen the functions of political parties and is an important legislative reform that is well overdue.” The Prime Minister said it is an important Bill to strengthen the functionality of political parties as an institution of state, however the Bill has not been passed because they have not managed to get the required number of votes from parliamentary members. “It is a constitutional amendment that requires over 73 members of parliament to pass this Bill,” Mr Marape said. “In the last few sittings, we struggled to get past 73 so we get numbers in the next two sittings, we certainly can pass this Bill.” “And so, I recommend to the House that if the number does go past 73, we could have a look at introducing this Bill and getting it passed.”

Development partners are being accused of not doing enough in the electrification space and are also working on small projects in the country with no coordination with the government. State Owned Enterprise Minister William Duma said this Parliament this week while explaining as to why the electrification program commitment made at the APEC Leaders Summit in 2018 has stalled. “When I last met with representatives of those companies at the Australian High Commission office about a year ago, we put it out to them that we wanted to select big impact projects and ask them to do the costings and fund them,” Mr Duma said. “That was the arrangement because from the way they were going, they were funding small projects in drips and drabs in an uncoordinated fashion.” “We made it clear to them that whatever they wanted to do to help us would not be helpful and will have less impact unless we tell them which areas and projects they should target.” He said he told them that the big impact projects include the setting up of power transmitter lines between provinces, build additional water dams and help provide power to the district headquarters in remote electorates. “These are the big impact projects that we want these countries to help fund so that we will then be able to take care of the smaller ones ourselves.”

PM James Marape has confirmed the untimely passing of Minister for Commerce and Industry and Goilala MP William Samb. "I have, late last night, received confirmation of the passing of the Honorable William Samb, at a hospital in Dubai, United Arab Emirates." "The Honorable William Samb who is the Minister for Commerce and Industry was on official duty travel to Dubai when he met his fate." He was reportedly unwell and in hospital when he passed away. "I have received this news with deepest regret. Our prayers are with his family and the people of Goilala at this time."

The 132 passengers travelling on board Lutheran Shipping vessel, MV Ialibu when the vessel ran aground on Tuesday night at Kampalap Beach on Siassi Island are all safe on the ground and now in the process of being evacuated from the island. According to the National Maritime Safety Authority, a rescue vessel had departed Madang for Siassi Island and dinghies are being prepared to transfer the stranded passengers. The report also stated that passengers were supplied with sufficient amount of food and are being properly sheltered. National Maritime Safety Authority Chief Executive Officer Paul Unas said from initial reports, the vessel’s Starboard Engine became flooded where the captain dropped the stern anchor to keep the vessel from being washed ashore. However, the strong North West winds and high swells eventually dragged the vessel ashore at 10:30pm on Tuesday night. Lutheran Shipping have refused to give out any details about the incident at this time. The National Maritime Safety Authority is carrying out its investigations on the cause of the incident to take appropriate action.

Papua New Guinea must have a student focused Education Sector Plan to achieve the government’s vision 2050 and the Sustainable Development Goals (SDGs) and targets, according to the National Civil Society Coalition Consultation Workshop that was held on 23rd February 2022. This was one of the strong recommendations made by the participants of the workshop while discussing on the draft Education Sector Development Plan (2022-2026). The one-day workshop facilitated jointly by Papua New Guinea Education Advocacy Network (PEAN) and the Consultative Implementation and Monitoring Council (CIMC) was for civil organizations to provide their views on the draft five-year Plan. More than 30 participants from civil organizations in different sectors including education, disability, academia, private citizens, human rights and researchers and volunteers attended the consultations. This is to ensure that the draft Education Sector Plan was inclusive and covers all areas for the delivery of quality education services in the next five years. Such is necessary for human resource development in the country, something which the Education Sector has to remain focused on to achieve the government’s vision 2050 and SDG goals and targets. Professor Kenneth Sumbuk who attended the consultations said that the core values in the draft five-year Education Sector Plan are skewed and has been written based on the Public Service Leadership Capability Framework. It therefore does not reflect specific core values of the foundation the education system in PNG is built on or its underpinnings including specific expected outcomes. He said to achieve quality, the education system should be student focused and should be transformative in terms of teaching and learning for better student experience and outcomes. Some of the participants expressed dissatisfaction over the limited time given to them especially non state actors claiming that the plan was massive and needed thorough public consultations with every key sectors involvement. They further raised concerns that half of education service delivery especially in the most remote parts of the country are executed by civil society groups, in particular churches and with the amount of time given for consultations, constructive feedback is also limited to inform the Plan. Some of the key recommendations put forward by the workshop participants included: • Education must be inclusive and accessible by all school aged children including slow learners and children with disabilities. Accessibility must be addressed at all levels from early child hood, primary, secondary to TVET. • Education Sector has to have a master plan for all infrastructure to meet standards in all levels of education in order to meet the needs of the children, in particular children with special needs; • Make sure specialists are available to train teachers to teach children with special needs at all levels of education system; • Promoting and supporting research and development to create PNG to be a modern and relevant learning sociality such policies and plans. • Pursue education excellence by practicing the best and highest standards of Transparency and Accountability: Promoting good governance through personal and institutional integrity, and moral, ethical and transparent and accountable practices. • FODE and TVET should act as an alternative pathway to cater for grade 8 students. So courses for grade 9 and 10 delivered in mainstream high schools should also be taught at TVET. • Disability sector to be recognized by the government, it’s not covered in the draft plan. • The education plan should accommodate strategies on how to cater for and address the increasing population growth.

The rural electrification program commitment made at the APEC Summit in 2018 by the governments of United States, Australia, New Zealand, Japan and PNG has not progressed as expected to date. State Owned Enterprise Minister William Duma revealed this in Parliament yesterday in response to Rigo MP Lekwa Gure’s question on the status of that commitment. “In the APEC meeting, there was a great announcement and a commitment made by the four countries to assist us have 70 percent of our country electrified by year 2030 which is only eight years away,” Mr Gure said. “So, what is the appropriate body that is coordinating this commitment?” “And how much of the country at this point in time has access to electricity?” “Is there a process or avenue where districts and provinces can make input to that body that is coordinating this commitment?” Minister Duma in response said the K1 billion commitment was a political statement made by the four governments with no properly documented process. “The understanding was that PNG as well as those countries, through the normal diplomatic channels have an agreement that would set out in detail how we will draw those funds,” Mr Duma said. “Unfortunately, since 2019, no such documents were signed by those governments and our government despite attempts by our Prime Minister and myself to follow up.” However, he said what has turned out was that those countries through their diplomatic mission have gone out and select small projects without having consultations with the government through PNG Power. “It is an ongoing process and we are still trying to negotiate but it looks like the new government will be able to continue that process and hopefully we can reach an agreement with definite work plans to reach our target.”