Independent Consumer and Competition Commission

CNCo has applied to the ICCC for either clearance or authorisation to acquire NewPac (the proposed acquisition).

In making the application, CNCo argued that the acquisition should be allowed to proceed under the ICCC Act because it will not lessen competition; and it will result in more benefits to the public in terms of increasing efficiency and rationalisation, reducing port congestions and reducing emission of greenhouse gas and sulphuric acid.

The current eight electricity licence holders generate electricity from hydro plants.

Markham Valley Biomass Limited (MVBL) now joins eight licensed electricity generation companies who generate and supply power.

The licence is for the generation of electricity to PNG Power, which was issued by ICCC on October 4^th.

“Markham Valley Biomass has a Power Purchase Agreement with PNG Power, and that has also come to ICCC for approval,” said Paulus Ain, ICCC Commissioner.

The ICCC is now calling on all businesses engaged in its importation, distribution and sale to immediately cease or be prosecuted.

The permanent ban was imposed on 19^th March, 2015.

However a recent product safety survey conducted by ICCC inspectors and officers in NCD identified a number of traders selling the banned product in their shops.

The information requested is necessary for the ICCC to investigate the acquisition and would assist in performing its statutory functions set out in the ICCC Act 2002.

Both Paradise Foods and Laga Industries are well-established competitors in the food and beverage manufacturing industry, and ICCC Commissioner Paulus Ain said there are genuine competition concerns, and an assessment is necessary for this acquisition.

Commissioner Paulus Ain said statements made by State Owned Enterprise Minister, William Duma, saying ICCC regulates the telecommunication industry, is incorrect and misleading.

The ICCC regulates prices of electricity, water, fuel, essential port services, motor vehicle third party insurance premiums, postal services, PMV and taxi fares.

It also monitors the factory gate price of rice, flour and sugar however, it does not set the prices of these goods.

The CNCo has applied for clearance and authorisation to acquire the business and assets of NewPac (proposed acquisition). The applications were since registered for assessment.

ICCC Commissioner and CEO, Paulus Ain, stated that the ICCC has completed its competition effects assessment of the proposed acquisition, which is the first step in such applications.

ICCC Commissioner and Chief Executive Officer, Paulus Ain, said ICCC is encouraged by the fact that the Government and the Minister for Communications, Information Technology and Energy, Sam Basil, share the same concerns that consumers in the rural and remote parts of PNG would have been adversely affected because they, for valid reasons, may have not been able to register their SIM cards.

The Independent Consumer and Competition Commission has released the new retail prices which will come into effect Sunday 8^th April.

Based on the various cost components, retail process for fuel in Port Moresby now sit at:

This is in line with its three year corporate plan which it launched today.

The plan was officially launched Vice Minister for Treasury responsible for ICC, Win Daki, in Port Moresby.

The vice minister said he was pleased to note that the ICCC has decided to embrace changes to support the Government.

Independent Consumer and Competition Commission (ICCC) in a statement said the price increase of the petroleum products, was a result of the increase in Import Parity Prices (IPP), and global crude oil prices.

Prices in Papua New Guinea are dictated by the Singapore market (IPP) and also cost of freight into the country.

Consumers in Port Moresby will pay an additional 6.78 Toea per litre for petrol, 4.32 toea for diesel and 4.81 toea for Kerosene.    

Petrol will cost 318.36, diesel 260.11 and kerosene 244.38 Toea per litres.