Propose government rice quota system unfair: Report

The report stated that a competitive market is good for an efficient outcome and allocation of economic resources but the proposed import quota allocation system will frustrate competition and create an inefficient rice market in the country.

“By promoting anti-competitive trade practices through the proposed unfair import quota policy/system, the Government will be violating the World Trade Organization trading rules,” the report highlighted.

Government urges to regulate compensation claims

This time, John Moksy, a hirecar owner, from Elti Pidambe tribe of Baisu in Western Highlands Province, said he had become a victim of compensation demand of K500, 000 and 200,000 pigs.

While honouring the demand with K70,000 cash and seven pigs yesterday last Thursday at Waigani in Port Moresby, Moksy said while damages done to his bus in the accident had cost him dearly, additional burden by way of compensation demands by the relatives of the deceased was unfair and unnecessary.

Mining sector continues to grow: NRI Report

The country’s think-tank, National Research Institute in its economic modelling research project report revealed that so long as development is a priority of Government, “business as usual” investments in the enablers rather than “austerity” is the best policy approach, even in the face of global and domestic economic challenges.

The modelling results are obtained within the context of declining world prices for PNG’s export commodities due to changing demand and supply conditions abroad, and also domestic challenges like the El Niño.

Government plans economic recovery

Prime Minister Peter O’Neill made this remarks after the members of parliament vote against the motion of the vote of no confidence against him (O’Neill) last Friday (July 22).  

He said as a trading nation, especially in LNG, as well as minerals and agricultural products, the country need a growing world economy, and stronger trade in commodities, and higher commodity prices, to maximise the recovery in the domestic economy

Government camp swells with MPs joining camp

As of last night, the head count was 75, according to reliable sources at the camp.

The source who wanted to remain anonymous told Loop PNG this morning that they are intact and confident to remain in the government.

More than 62 MPs along with Prime Minister Peter O’Neill left for Alotau on Sunday, while 10 of them arrived in Alotau on Monday.

Meanwhile, the Opposition camp in Port Moresby has been getting support from the people and former prime ministers.

Grand Chief Sir Michael Somare yesterday showed his support to the team by visiting the camp.

No- confidence motion hearing confirmed

 A status conference held this morning before a five-judge Supreme Court bench confirmed the hearing for July 1.

The application filed by Leader of the Opposition, Don Polye substantively seeks the High Court to order the Speaker to recall Parliament to debate the Motion of No-Confidence as a matter of national urgency.

Parties will however return to court on Wednesday where lawyer representing Don Polye, Loani Henao will confirm service of documents to parties in preparation for the hearing.

Kase says Govt to buy medicine to distribute in PNG

This procurement process is seeing the availability of medicines in rural facilities nationwide.

Secretary for Health Pascoe Kase says the Government in supporting the health sector in strengthening the responsiveness and accountability of the medical supply system has re-established the Pharmaceutical Tenders Board and it is functions.

He says in addition to that, funding for medical supplies has steadily increased during the last three years and our challenge is to manage procurement and distribution effectively to avoid shortages.

Fall in commodity prices affects economy

However, BSP’s Economic and Market Insight stated that PNG’s GDP is expected to normalised after posting strong growth (8%) over the last decade.

The report stated that the economic growth is expected to be around 4.3%, the ‘new normal’ in 2016 driven by a rebound in the mining and non-mining sectors.

There were some positive developments with OK Tedi Mine (OTML) resuming operations on March 1, after a seven-month stoppage.