PNG Haus Bung

https://pnghausbung.com/justine-wellington/

Published on April 23, 2021

JUSTIN WELLINGTON SET TO RELEASE NEW TRACKS

Justin Wellington aka JW, the 43 year old who was born and raised in Lae, Morobe Province who rose to fame in the PNG music industry with his hit single ‘Much Love’ in 2002 has several singles completed and lined up for release later this year. Some of JW’s hit singles that were released here in country included, 'Much Love', 'I Wanna Give You Some Loving', 'Better Off', 'Fire', 'In Love With U', 'Runaway', 'Tell Me', 'Reminiscing', 'Rain of Morobe', and 'Iko Iko'. While here, JW collaborated with some of the top Papua New Guinean artists like Jokema, Robbie T, Mekere Crew, Steven M, Gravity, DJ Travy, Tattz from NakaBlood, O-shen, AK-47 to name a few. JW has staged and performed a lot of gigs locally and internationally and to date, he has released 3 albums with countless number of singles. JW told this newsroom that as per hit single Iko Iko, he is currently managing the global viral outbreak of this hit song on TikTok. “There is a very big announcement coming soon regarding this song." During this COVID-19 outbreak, JW said that things were largely back to normal in Australia and he has been performing regularly since July last year. “Currently I am based in Cairns, Australia and I am engaging in professional music full time and will be releasing new singles soon." JW plans to create and release more music and put smiles on the faces of his fans. The artist will be doing a feature show in Brisbane at a venue called "The Back Room". The event was originally scheduled to be staged last year but due to the COVID-19 Pandemic and its restrictions, it had to be postponed.

Published on April 23, 2021

https://pnghausbung.com/govt-to-review-k200-million-sme-loans-disbursement-criteria/

Published on April 23, 2021

GOVT TO REVIEW K200 MILLION SME LOANS DISBURSEMENT CRITERIA

Deputy Prime Minister & Minister for Commerce and Industry, Hon. Samuel H Basil, MP this week flagged that the Marape-Basil Government has commenced a review exercise and a re-think of the K200 million loans disbursement for Small and Medium Enterprises. “It is important that the impact and focus of this loans disbursement addresses not just those impacted by Covid-19 but those who are contributing honestly and directly to nation-building,” said Mr Basil. Flanked by Internal Revenue Commissioner-General Mr Sam Koim and Investment Promotion Authority Managing Director Mr Clarence Hoot, Mr Basil said: ”100% IRC tax compliance by Small and Medium Enterprises (SME’s) in PNG will attract preferential treatment in accessing future stimulus support of loans or grants together with furnishing of timely annual reports to Investment Promotion Authority by this registered SMEs. The partnership with IRC is key to making decisions based on data: not feelings based on political convenience. “Following the review exercise, I intend to bring an NEC Paper that ensures a fairer, more equitable and more strategic way to disburse the loans with clear beneficial outcomes,” said Mr Basil. He urged SMEs to be 100% tax compliant to be eligible to access the Marape-Basil Government’s planned future economic stimulus packages. “In order to qualify SMEs must have an existing relationship and positive history of compliance with IRC & IPA. It’s that straight forward. I intend to end this funding of overnight sprouting SMEs who don’t pay taxes because they don’t last and often have their loans conveniently written-offs. “I have directed my department to compile a report on the disbursement of the K200m loan to rescue SME’s in 2020 as I remain unconvinced that the strategies and mechanisms adopted by the financial institutions tasked to disburse the first K200m were effective or consistent with the Marape-Basil government’s key priority to support PNG families. “I have therefore directed the Department of Commerce & Industry (DCI), Investment Promotion Authority (IPA) and the SME Corporation to work closely with the Internal Revenue Commission (IRC) to: Identify well-performing, tax-paying and legal/regulatory compliant SME’s based on IRC data and IPA data; Ascertain the impact of COVID-19 on their tax paying capacity; Ascertain the kind of assistance – if any – may be required; Appreciate which sector these SMEs are located in; which regions and provinces/districts they do business; and their ownership; And how many of them have benefitted from the loans disbursed by BSP, NDB and DCI grants The data collected by the IRC will provide the valuable statistics needed for the diagnostic tool to assess the performance and eligibility of compliant PNG taxpayers. The data collected will also assist us to measure the strengths and weaknesses of tax compliance and business certification in PNG for SME’s and more broadly to encourage foreign direct investment in these challenging economic times. Mr Basil said that the data will also help us to encourage disbursements fairly in sectors and in the four regions and 22 provinces. “I am relieved that future initiatives to support hardworking PNG family businesses or SME’s will be assisted by such an operational measure within the IRC that aims to identify and reward those who pay taxes on time and within the processes required of their category of business. “So while the concerns over the effective roll out of the SME Policy and its funding remain, we are ensuring that our efforts to assist SME’s in PNG remain robust, fair, strategic and transparent,” Mr Basil said. A visibly relieved Mr Koim said that he is pleased with the new focus by the Government and will ensure that IRC assists. He also took time to explain the rollout of the new diagnostic tool designed and used by the IRC to grade and categorize tax compliant and IPA registered SME’s in PNG. IRC Chief Commissioner, Mr Sam Koim said “the K200m is taxpayers money and those taxpaying small entities who have been faithfully looking after the government will now receive some form of relief from the government at this stressful time.” He added “this is not a free cash cow for mushroom and popup businesses.” “Government subsidies cannot be absorbed by non-compliant entities…compliance is key,” Mr Koim said.

Published on April 23, 2021

https://pnghausbung.com/ela-motors-supports-nature-park-with-new-bus/

Published on April 23, 2021

ELA MOTORS SUPPORTS NATURE PARK WITH NEW BUS

Ela Motors PNG continues its support to the Port Moresby Nature Park with a donation of a 26- seater bus presented to the Park last week. The donated bus would especially assist Nature Park’s Education team in ensuring students in and around NCD and Central province are transported safely to and from the Park to attend its School Excursion programs. Port Moresby Nature Park’s General Manager, Mr. David Thompson on behalf of CEO Michelle McGeorge, expressed great thanks to the Management of Ela Motors PNG for continuing its support to Port Moresby Nature Park. “We appreciate the timely donation as students have now resumed Term 2 of their education calendar and so does our Education team here at the Park. The new bus ensures a great start to Term 2 Education programs for our team”, added Mr. Thompson. Nature Park's School Excursion programs are in line with Ela Motors Corporate Social Responsibility under Education, Environment and Safety. Ela Motors has been a continued supporter of the Port Moresby Nature Park’s Education program since 2013 and continues to support this worthy cause to effectively deliver School Excursion programs in NCD and Central province. Ela Motors believes that children's education is a paramount concern and hopes that this donation will greatly support the Park’s Education Team to educate school-aged children on the importance of native wildlife conservation and preservation. Ela Motors Marketing Manager Benjamin Niligur says, “The company is pleased to assist Port Moresby Nature Park to make an impact on the populace by assisting in the learning opportunity for the children to experience real-science based learning outcomes outside the classroom and help promote Environment and Conservation awareness.” Port Moresby Nature Park’s School Excursion Program is facilitated by the Park’s Education team and is specifically targeted at supporting the learning outcomes of the PNG curriculum. The Park’s various programs include Grade specific Science programs, which support the teachers in their lesson plans and curriculum outcomes. This allows students to learn both theory and practical aspects of their environment lessons at their school and in the park respectively. Such education programs could only be made possible with support from organisations like Ela Motors; giving the park necessary assistance that will help deliver its program in educating the future generations of Papua New Guinea about their unique natural environment. Port Moresby Nature Park is a charity organization that relies on grants and donor funding to operate. By visiting the park and joining our Membership program, you help support the Park’s efforts in preserving PNG’s unique natural environment for future generations, including the Park’s 550 resident animals, majority of which have been surrendered to the Park for care.

Published on April 23, 2021

https://pnghausbung.com/focus-on-alternative-payments-through-mobile-technology/

Published on April 22, 2021

BSP FOCUS ON ALTERNATIVE PAYMENTS THROUGH MOBILE TECHNOLOGY

Wabag in Enga Province is deemed the least populous provincial capital in the country. It is situated on the Lai River and the Highlands Highway passes through the town between Mount Hagen and Porgera. Nestled in this town, is one of Bank South Pacific Financial Limited (BSP) top mobile merchants Esrae Trading, an active advocate for cashless ecosystems and a frontline financial inclusion touch point, educating its consumers on the convenience and economic benefits to pay using mobile payments. This SME retailer continues to influence the payment landscape by driving cashless payments through Mobile Payments, they burst on the scene early this year generating the 2nd highest transaction volumes across Papua New Guinea. Consumers within Enga province are embracing the paradigm shift for to mobile banking, a far more secure way to transact. Elsie Sumnan, shop owner stated, “My customers are educating each other on how to pay using mobile payments. When a customer makes a purchase successfully on their phone, word gets out as part of the awareness and more and more people are starting to pay with their phone”. I continue to teach my customers on mobile payments and how it is cheaper for them to pay, I tell them, mobile banking is convenient as you just use your one bang phone (feature phone), you don’t need credit just dial *131#, and I make sure they know it’s cheaper than EFTPoS and card, the bank fees 10 toea tasol.” Elsie added, “My customers know they have a cheaper option to get cash back using mobile banking as opposed to using their cards to get cash out. I can help provide this banking service to the customer and for me as a merchant, there is no fee”. The Payment Landscape continues to evolve at a growing pace with consumer needs and/or demands pushing for advanced convenience and cheaper options to purchase goods and services, household items, and utility payments. BSP understands that Digital adoption will encounter geographical dependencies considering the service availability and reach, specifically within rural PNG. This financial gap provides opportunity to resolve payment constraints through the enhancement of existing digital solutions, focusing mainly on the mobile banking platform. BSP is considered a digital enabler for the masses, we assess channel adoption by the large masses, and we recognize the significance of our mobile banking USSD Platform, it is a critical rail that allows BSP to reach into the most rural areas of PNG and influence financial inclusion. USSD Mobile Banking remains the highest transacting channel, with free air time sessions, and no limitation to a smartphone device, it effectively allows customers to conduct payments on any hand-held device at any time. Recently, introducing the Mobile Merchant solution as an enhancement to the channel allows Businesses to participate by conducting P2B Payments or direct account-to-account transactions through *131# for goods and services rendered. On record, the Mobile Merchant solution continues on an upward trend in transaction volumes with the NCD region and Highlands accommodating for 31% of transactions. . Local SME and Large Corporate Merchants are adapting to this payment medium, as a cheaper alternative. Merchants are prompting consumer usage through emphasis on the productivity gains offered, from instant payments, reduced transaction fee of 0.10t, and minimising reconciliation challenges for their business. Annual payment for education is one of the most common transactions in branches, but recently schools and education institutions have adopted the persona of a merchant to receive payments through mobile banking. The NGI Region have quickly adopted the BSP Mobile Merchant for digital payments, as reflected with Bialla Secondary School as the overall top performing secondary institution, as the school continue who are influencing parents to utilize mobile service to pay for school fees. This is followed by Divine Word University as the highest transacting tertiary institution. Increasingly Parents in the region are becoming digitally aware of the convenience and ease of making payments, also demonstrated in urban NCD and even in the Momase Region. In overview of our neighboring countries in which BSP operates there is signifying similarity in channel adoption such as in Samoa, Fiji, and Solomon Islands. Each Offshore branch identifying high penetration of mobile devices as a medium for progressive growth within the Digital Payments realm. Solomon islands has a 49% subscriber penetration out of a population of 600,000+, since than BSP Solomon Islands has seen a positive growth of 33% in mobile banking users at the close of 2020. Increased usage and adoption was largely due to the introduction of the Cash Water Service, allowing for an increment of 14% in financial activity. The top Performing channels remain as Mobile Top Ups, Transfers, Cash Power, and Cash Water generating high transaction volumes. Fiji has recorded 65.7% mobile connections, reaching 1.25mil of the population. BSP Fiji mobile banking customers continues to grow towards 100,000 users signaling the opportunity for growth expansion by introducing functionalities such as account alerts and airtime top up. BSP’s primary focus is to expand reach and adoption for financial inclusion for our people in all regions throughout the country and in the Pacific; and by creating an enabling environment for alternative payments using mobile connectivity brings economic benefits for basic banking services. Once the bank completes implementation of our new core banking system, new and improved enhancements to our mobile banking platform will be available to all our customers including our Pacific markets.

Published on April 22, 2021

https://pnghausbung.com/government-secures-best-price-for-spo-round-logs/

Published on April 22, 2021

GOVERNMENT SECURES “BEST PRICE" FOR SPO ROUND LOGS

PAPUA New Guinea has secured what could be described as the “best price” arrangement in decades for round logs export with an overseas firm. Forest Minister Walter D. Schnaubelt revealed a State Purchase Option (SPO) has been recently conducted between the Papua New Guinea Forest Authority (PNGFA) and a Chinese firm, Great Zone Holdings Limited in Shanghai. SPO is one of the provisions under the timber licence that the State through PNGFA is given 25% of total logs harvested annually by a timber company, the option to engage in a sale and purchase of round logs. PNGFA in this arrangement is able to engage in open market internationally and independently to test and obtain the best price for PNG tropical round logs. There ha\ie been significant achievements through the auspices of SPO, which started in 2007 and managed by the Timber Marketing Branch at PNGFA. The increased FOB price for SPO goods will now set a new benchmark for normal cargoes onwards, and secure long term arrangements for SPO Log Buyers to promote strong markets for PNG forest products and primary produce at arms length and in a transparent manner, and taking a competitive advantage against other tropical and temperate forest producers and exporters. “I’m pleased to announce a significant milestone achievement by the Marape-Basil government. Our recent SPO agreement signed with Great Zone Holdings Limited has offered to purchase 7,984 cubic metres of round logs of varying species totalling US$1.2m (K4.Inn) an average increase of about US$65 (K230) per cubic metre more than the existing price agreed to in recent times. This increment, which excludes ie\lies and royalties, translates to a Duty Tax gain of K282m per annum which also represents an increase of about 60% of tax revenue gained for GoPNG in the forest sector. "Despite the negative perception of the forest sector and this Government in recent events, it is the Marape/Basil government foresight focusing on “Take Back PNG" policy that has persevered in enhancing best price for PNG resources. PNGFA is no different in this instance.” The elated Minister commend the SPO department for facilitating this successful outcome and encourage them to continue to put PNG's interest first when negotiating on our behalf. The minister also thanked Sentawan (PNG) Limited for releasing its first SPO cargo upon written advise by PNGFA and he strongly recommend all timber companies to comply with the same arrangements in the coming months. He is calling on logging firms to stick to the latest SPO price discovery when submitting their Export Endorsement Price applications to PNGFA. ‘All timber companies are expected to observe these changes and apply gains per species of all round logs exported accordingly," he said. As Minster responsible for signing all export permits, Schnaubelt said he is expecting no more than 10% variance per cubic metre on all Export Endorsement Price application submitted to PNGFA based on current market prices. If the recorded gains are less than 10% in comparison then expect your applications to be returned until price adjustment per cubic metre is satisfactory. “It's also my view to work towards achieving 60% (avg 2million cubic metres per year) of round logs to have processed onshore by 2025 and 40% of round logs exported then must remit 100% of sales proceeds back onshore.' He also announced the current SPO price attained for tropical round logs for highly sought species. This includes among others: Kwila (KWI) at US$340 (K1,202)/cubic previously $240 per cubic; Taun (TAU) US$198 (K70O)/cubic previously $96/cubic; and Calophyllum (CAL) US$196 (K693)/cubic previously $80/cubic etc.... these prices per cubic metres is one of the “best price' since Independence thanks to PNGFA and Marape/Basil government s “Take Back PNG” policy.

Published on April 22, 2021

https://pnghausbung.com/nsl-supports-vaccination/

Published on April 22, 2021

NSL SUPPORTS VACCINATION

Nambawan Super is urging Papua New Guineans to support the Government in its preparation and rollout of a national vaccination program to combat Covid19. Chairman of Nambawan Super, Reg Monagi, said Nambawan Super is putting its people in line to be vaccinated as soon as possible and advocating for its members to be on the Government’s priority listing for access to vaccination. “The Government has NSL’s full support for the rollout of the PNG Medical and Scientific Advisory Committee approved Covid19 vaccine,” Mr Monagi said. “The Fund is concerned for the health and wellbeing of our our staff – but also our members, many of whom are the front line workers of the country, like health workers, teachers, police, correctional officers, and essential service providers like PNG Power and Ports. “The nation needs these services to continue, as they are the services that enable the rest of the country and wider business community to function effectively,” he said. NSL has been engaging with the wider business community to back and support PNG’s vaccination program. “Nambawan Super wants business to get back to normal, to protect jobs across the country, and to safeguard member investments through improved economic conditions. “For this to happen we need people to be able to freely move around and businesses to have the confidence to open and operate.” “We believe a rapid vaccination program is needed to help restore business confidence and save the lives of many in PNG.” Mr Monagi appealed to the community to accept that Covid 19 is real and not dismiss the threat of the new disease that has a case fatality rate of 1-4% globally. “It is hard to get a true measure on how deadly Covid19 truly is due to different testing and reporting regimes around the world.” “Throughout 2020 PNG avoided the pandemic’s worst health impacts, but now Covid 19 is spreading widely in our communities. “We are all seeing growing numbers of deaths, with many in the community touched by the death of loved ones and there are continually growing confirmed positive cases on Covid 19 reported daily.” Monagi said that whilst it was an individual’s choice to be vaccinated he encouraged members to seek good information about vaccines and remember the risk of extremely rare adverse reactions from the vaccine are much lower than the risk of catching Covid19 and suffering longterm health impacts or death. “Social media should not be a substitute for news from trusted, legitimate information sources, like the State of Emergency Controller, Medical Experts and the World Health Organisation. “Members must take care to double-check the source of information they receive is reliable at this critical time so that they are getting accurate information.” Whilst the vaccination program is rolled out Mr Monagi urged members to stay ahead of the spread of Covid 19 by: 1. Maintaining a social distance of 1.5 metres between people 2. Wear a mask 3. Wash hands regularly 4. Cover your cough PHOTO Supplied Caption: Evangaline Taunao, Branch Operations Manager holding her vaccination certificate. Mrs Taunao, who was offered and accepted an early vaccine, said "I did it for my husband, children and grandson, and to protect my parents and mother-in-law."

Published on April 22, 2021