market

Rowdy drunks instigate fighting, market closes

A fight started on Wednesday afternoon but was stopped by Police.

However, it started up again yesterday morning and broke out onto the Highway, making the road unsafe for the travelling public.

“The fight started from men and women who turned rowdy after consuming homebrew,” reported police.

“The fighting is between people from Simbu and Southern Highlands.

“Three-Mile Police Station Commander, Senior Constable Sam Topurua, supported by Special Response Unit 102 and Rural Response Unit under the PPC Morobe, have told the people there will be no mediation.

PNG recorded modest growth: Group

This is due to an increase in global commodity prices and production in the domestic mining industry, coupled with improved performance in the non-extractive sector.

“PNG’s economy grew by an estimated 2.2 percent in 2017, according to the 2018 budget tabled in Parliament on November 28,” reports the Group.

“While above the 2 percent annual growth rate recorded in 2016, the figure was below the 2.7 percent expansion forecast in the Treasury’s Mid-Year Economic and Fiscal Outlook, released at the end of June. 

PNG needs prudent macroeconomic policies: IMF

This was from the executive board of the International Monetary Fund (IMF), in consultation with PNG on November 29, 2016.

“As a commodity exporter, the PNG economy has been hit hard by the drop in world commodity prices and a major drought. The authorities have responded to these shocks through fiscal tightening and a combination of modest exchange rate depreciation and FX sales,” the board said in a statement.

“Strong economic growth driven by the start of the PNG LNG project, has tailed off amidst weak non-resource sector growth.

Oro rice officially on the market

Six tons of Oro rice have left the shores of Northern Province and shipped to Trukai Industries in Lae, Morobe Province, to be on the shelves in shops.

Another 18 tons are packed and will depart the Oro wharf in the coming months.

Northern Governor Gary Juffa mentioned this during the Trukai Industries Field Day at Erap on Friday.

"Oro Rice Association has packed six tons of rice for Trukai Industries. Another 18 will be shipped across shortly. This is the culmination of hard work by our local farmers and Trukai Industries.