Rental Arrears

This signals a significant step forward in settling longstanding rental arrears.

This comes as part of an agreement established between the State and NSL last year, underscoring the State's commitment to meeting its financial obligations and fostering a secure future for its public servants and employees.

At a joint statement, PNGTUC stated that it is in full support of Nambawan Super Ltd’s proposal to lockout the state tenants occupying its buildings if the payment of K60 million worth of 2023 rental arrears is not paid back before the close of business today.

PNGTUC Acting General Secretary, Antom Sekum and fellow congress members understand NSL’s ultimatum, which is being given in order to protect the retirement savings of members of member associations.

NSL Chief Executive Officer, Paul Sayer, expressed gratitude to the State, specifically acknowledging the Departments of Finance and Treasury for the payment.

Sayer emphasized the importance of timely payments.

"The continued payment of these arrears is crucial as it enables the Fund to continue reinvesting our Members' savings so that we can keep generating strong returns for them over the long-term."

This outstanding rental bill comprised of K50 million accrued in 2023, and K58 million outstanding from several years prior to 2023.

NSL is seeking payment of its outstanding rental arrears after the State failed to make scheduled payments for the months of February, March, April, May and June, 2023.

Last year, NSL and the State reached an agreement whereby the State would settle the remaining balance of its rental arrears in K10 million monthly instalments.

On Wednesday, 12^th of January, the NHC evicted Henry Mora Bonou and his family for not paying up their rentals, which had accumulated for over a period.

Mr Bonou is a retired carpenter who is now bed ridden due to physical ailment, was the first tenant of the NHC property along Silkwood Street in Hohola, NCD.