Over K500 million has been invested in a wide range of sectors under the Tax Credit Scheme (TCS).
The partnership between the state and major private companies has delivered K531.8 million between 2013 and July of 2016 according to the Department of National Planning and Monitoring.
These funds have been invested in education and health, law and justice, transport and utilities, and administration.
The five main players in partnership with the government under the scheme are New Britain Palm Oil (NBPOL), Newcrest Mining Limited (NML), Ok Tedi Mining Limited (OTML), Porgera Joint Venture (PJV), and Oil Search Limited (OSL).
All of NBPOL’s K4.21m funding has gone to the transport sector to improve roads in West New Britain Province as it relies on the infrastructure to transport palm oil from its plantations and from smallholders to its factories.
NML has invested K48.41m in the New Ireland Province focusing on education and health, transport and utilities.
PJV has invested K39.81m in education and health, transport and law and justice in the provinces of Enga and Heal.
OTML has invested in administration, utilities, transport and education and health sectors in Western Province, Enga, and West Sepik Province. Total funding under the TCS is K88.08m.
OSL has invested more than half of the total amount invested under the TCS with K351.27m in programmes in Southern Highlands, Western Highlands, Hela, Central, Simbu, NCD, and Enga Province.
They have invested in sectors which include administration, education and education, law and justice, transport, and utilities.
OSL also announced in October its funding of the APEC House in Port Moresby worth K125m which is also under the TCS.
This will bring OSL total investment under the TCS to K476.27m and the total TCS from all five players to K656.8m.
Under the TCS, which was first introduced in 1992, the State uses mining and petroleum and gas, and agriculture companies as contractors, to build infrastructure without the need for an appropriation from Treasury Department.