ICCC

ICCC Approves Telstra Buyout of Digicel Pacific

ICCC Commissioner and CEO, Paulus Ain said while acknowledging that Telstra is one of the four big telecommunication operators in Australia, the ICCC has concluded that this Proposed Acquisition is not likely to have the effect of substantially lessening competition in any markets Digicel is currently operating in PNG, because Telstra has but very limited presence in PNG markets.

 

Mr Ain said the ICCC therefore decided to allow Telstra to acquire Digicel PNG and its subsidiaries.

 

Transfer invalid, ICCC says

The statement was directed to key government Ddepartments, statutory agencies, PNG Power Limited (PPL), Independent Power Producers (‘IPP), development partners and donors, the private business community and investors, and relevant stakeholders.

Retail Fuel Prices Increase

The Indicative Retail Prices for petrol, diesel and kerosene will all increase significantly on average, throughout PNG. 
 
  • Petrol prices will increase by 25.99 toea per liter.
  • Diesel prices will increase by 32.06 toea per liter.
  • Kerosene prices will increase by 30.91 toea per liter.
 
The significant increase in domestic fuel prices was mainly attributed to the 17.48 percent average price increase in crude oil prices from December 2021 to January 2022.  
 

Proactive Leadership To Address Power Issues

ICCC Commissioner and CEO, Paulus Ain said the impact of continuous power outages has affected electricity paying customers and businesses alike.

He said: “The various articles published on 16th November, 2021 in both dailies paints the unfortunate reality of PNG’s power sector, but the problems affecting PPL’s reliable power services cannot be rectified by PPL alone.”

Mr Ain said the problems affecting PPL need collaborative and coordinated effort from all key stakeholders and those continuous power problems are amplified by:

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Santos Seeks Approval For Merger

The ICCC has formally announced this to key stakeholders, the public and participants in the oil and gas industry, that it has received an Authorization Application from Santos Ltd, an Australian energy company.

The Authorization Application is consistent with section 82 of the ICCC Act 2002, for business, mergers and acquisition. This process allows a business to seek approval from the ICCC before proceeding with any business mergers and acquisitions that would otherwise raise serious concerns.

ICCC Approves Code-sharing For Airlines

On 9th of April, 2021, Link PNG lodged an application for authorization in accordance with Section 70 of the ICCC Act 2002, to enter into and give effect to a proposed JOA which includes provision of a proposed Code-share Agreement with PNG Air for the duration of five years.

Tango Pays K15,000 Penalty

They paid ICCC the monies as penalty under Section 134(1)(a) of the ICCC Act for compliance as a good corporate citizen.

 

Tango admitted liability for breaching Section 108 (1)(c) of the Independent Consumer and Competition Commission Act 2002 (ICCC Act) by selling Yoyo Water Balls on 4th July, 2018.

 

Yoyo Water Balls are the subject of a Permanent Ban pursuant to National Gazette Notice No. G191 of 2015.

 

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ICCC Declines Westpac Acquisition

The decision means Westpac can no longer sell its PNG and Fiji banking operations to Kina

ICCC Commissioner and Chief Executive Officer, Paulus Ain stated that the acquisition would have adverse effects on competition in the country and provided nine issues that he said warranted the commission declining authorization of the acquisition:

Kina Securities Outlines Vision

Kina Securities Ltd Chairman, Isikeli Taureka and Managing Director and CEO, Greg Pawson, outlined a powerful vision for more competition in the banking sector, more innovation and customer choice for PNG, if the Independent Consumer and Competition Commission (ICCC) approves the acquisition. 
 
“Our mission is to constantly improve the prosperity of the people, communities and markets that we serve. We strongly believe that this transaction should be approved by the ICCC,” said Mr Taureka.
 

Maru Slams Govt’s Silence On Westpac Sale

Maru raised this concern on the floor of Parliament yesterday during the Question Without Notice period.

"Why is the Government so silent and not backing up the acquisition of Westpac Bank?"

Prime Minister James Marape responded and clarified that the Independent Consumer and Competition is an independent body and the process of acquisition is still ongoing.

He further added that investors in the country have a choice to stay and continue doing business or leave.