Independent Consumer and Competition Commission (ICCC)

ICCC informs that the existing five-year Regulatory Contract binding between ICCC and MVIL is due to expire on December 31, 2022, hence this review is undertaken to determine and set a new Regulatory Contract for the next five years (2023-2027).

The new retail fuel prices will take effect today.

“The significant increase in domestic fuel prices was mainly attributed to the increases in the Singapore product prices of between 17 percent and 25 percent, and the significant increase of 40.6 percent in international tanker rates in March 2022, which drove up average prices at the International Petroleum Products level for April 2022,” said the ICCC.

About 12 participants (six BDOs and six provincial administration officers) participated in the workshop equipping them with the necessary skills and knowledge to perform their delegated duties and responsibilities on behalf of the ICCC.

Each participant was presented with a certificate of authorization and participation including official identification cards and uniforms (field wear) from the ICCC.

Sections 7(1) and 106(c) of the ICCC Act empowers the ICCC, among other things to liaise with government agencies on matters relating to consumer protection.

He stressed that the government is yet to implement the recommendations from a report put out a decade ago.

Ain said the urban Real Estate and Housing Industry has been a grave concern for the ICCC.

He made these remarks at the launch of the ICCC’s housing Policy on Friday.

The ICCC Housing Policy is an inclusive financial assistance package for all ICCC staff to participate in the First Home Buyer Scheme (FBHS), the Home Renovation/Extension Scheme, and the Land Purchase Scheme for purposes of building a house.

Present to witness the ceremony were representatives from the Internal Revenue Commission (IRC) BSP, Financial, the Department of Treasury and staff of the ICCC.

The business development officers (BDO) will perform the role of, and act as agents, for the ICCC in Simbu.

Sections 7 (1) and 106 (c) of the ICCC Act empower the ICCC, amongst other things, to liaise with Government agencies on matters relating to consumer protection legislation.

On 09^th April, 2021, Link PNG lodged an application for authorisation pursuant to Section 70 of the Independent Consumer and Competition Commission Act 2002, to enter into, and give effect to, a proposed JOA which includes provision of a proposed code-share agreement with PNG Air for the duration of five years.

According to Link PNG’s application, the proposed JOA is for the purpose of, among other things, the coordination of flight schedules, fleet allocation, operational and maintenance of services and charter airline operations between the two airlines.

For this month, the Indicative Retail Prices (IRPs) for petrol, diesel and kerosene will all increase on average throughout PNG.

The rise in retail price is mainly attributed to reduction in supply from the Organization of Petroleum Exporting Countries (OPEC) and its allies, and increased global demand.

The domestic retail fuel prices for this month are inclusive of the IPPs, domestic sea and road freight rates for the third quarter of 2021, the annual wholesale and retail margins for 2021, applicable excise duties, and Goods and Services Tax (GST).

PORT MORESBY