The National Government’s next phase of the relief support for the affected business houses from the Black Wednesday riots will be in the form of concessional loans for the restocking and rebuilding exercise, but government has been asked to reconsider its decision on this. This is because most of these business houses cannot be getting any further loans at a time like this, especially when they have the burden of repaying their other existing loans. The President of the Port Moresby Chamber of Commerce and Industry (POMCCI), Mr. Rio Fiocco told PNG HAUSBUNG that the second batch relief support initial total stands at K250 million and will be made available through the National Development Bank (NDB) with a concessional rate of 2.5% interest. “But, the Chambers of Commerce (POMCCI & PNGCCI) have gone back to the government to ask it to please reconsider this decision because the businesses already have significant loans,” said the POMCCI President. Instead, what they need is a cash grant to enable them to restock and rebuild their shops, including some of the small businesses that were damaged on Wednesday 10th January, 2024. “We are having further discussions with the Chief Secretary’s Office and we are hoping that the NEC (National Executive Council) will revisit that earlier decision to make available by way of loans, and instead convert some of that to cash grants,” Mr. Fiocco said. A further allowance of K500 million to be added to the relief support is also being discussed because it is going to be an extensive exercise that will probably take up to two years for those supermarkets to be rebuilt. Mr. Fiocco hopes that they have another meeting with the Chief Secretary next week to further discuss on this matter. Nevertheless, the POMCCI President said they are pleased that the National Government has finally released the first installments of the relief support funds totaling K40 million for the wage support program. Released last week Friday, the initial businesses affected by the riots and looting like City Pharmacy Limited (CPL) received K5.82 million, Bismillah Holding Limited received K2.5 million and Pypon Holdings Limited received K588, 000 to go towards keeping their employees on the payroll, especially those who are left without an employment due to the shops burnt down. Mr. Fiocco said under the wage support program, each employee will be paid K500 fortnightly, but only for a period of six months.