The first phase of the State assistance for business houses affected by the Black Wednesday riots in Port Moresby city is underway with the relief package comprising of cash assistance, concessional loans, and administrative and policy support. The Chief Secretary to the Government, Mr. Ivan Pomaleu said the focus is on expediting relief efforts and facilitating the recovery process with three (3) companies already receiving their employee retention packages, marking the onset of the first phase, with additional claims being processed by the Inter-agency Task Force. The Government’s support initiatives are structured into immediate-to-medium-long-term assistance, categorized as Cash Assistance and Soft Loan Assistance. The phased program is outlined as follows: 1. Immediate Support (3 April – 3 May, 2024): Employee Wages Support. 2. Medium-term Support (6 – 7 May, 2024): Removal of Debris/Cleaning. 3. Long-term Support (May – December, 2024): Restoration, Restocking & Reconstruction. To facilitate seamless support flow and speed up business restoration, the government has agreed to write-off procedural costs associated with relief arrangements. Key Relief Measures: · Red-Tape Reduction: A dedicated Inter-Agency Task Force has been established to streamline regulatory processes. · Cash Support: Affected companies are receiving six (6) months of salary support, including superannuation, with additional assistance for debris removal and reconstruction. · Concessional Loan Support: Funding allocated to the National Development Bank, with government guarantees, will facilitate concessional loans for rebuilding efforts. · Administrative Support: NCDC and municipal authorities are implementing the Express Lane process to expedite building approvals. · IRC Support: Various forms of assistance, including tax re-estimations and expedited GST refunds, are being offered by the Internal Revenue Commission. · Customs and Insurance Support: Waivers on customs duties and efforts to enhance insurance industry regulation aim to alleviate financial burdens on businesses. Emphasizing accountability, the government has mandated rigorous monitoring, evaluation and auditing mechanisms to ensure transparent resource utilization under the Relief Package. Mr. Pomaleu, who is also Chairman of the Task Force, expressed confidence about the transformative impact of the Relief Package, reaffirming the government’s commitment to supporting the business community during the challenging times. As the first phase nears its conclusion, affected businesses are encouraged to promptly avail themselves of the support provided under the Relief Package. Through collaboration efforts, the government and the business community aim to overcome adversity and pave the way for sustainable development.