Ian Chow

Firms frustrated with change in code

Chief executive officer of the Lae Biscuit Company, Ian Chow, said another barrier was added when Papua New Guinea Customs recently changed the coding of certain goods.

LBC was affected when the coding on shortening was changed and duty was added. On top of that, the charges were backdated to five years earlier, meaning companies have to pay the new rate for the previous financial years.

Opportune time to export PNG products

Chairman and CEO of the Lae Biscuit Company, Ian Chow, said they just need the support of policy makers, stressing that PNG products are now equal to those from Asia and Fiji.

He stressed on the main areas of concern for employers in PNG, with electricity at the top followed by deteriorating infrastructure, like roads, which increase the cost of doing business.

“The businesses are here, we can be exporting like Fiji, by just luck of COVID pushing the prices up in Asia,” he said.