MVIL

The  one-year MOU will mean PMV owners and operators in Gulf Province get subsidies on their PMV registration and Compulsory Third Party Insurance costs by the Kerema DDA.

A K200,000 PMV subsidy funding was earmarked for this, and parked with MVIL.

MVIL will facilitate the subsidy arrangement consistent with all existing MVIL registration and CTP insurance requirements. There are five existing requirements which apply to both new and existing PMVs seeking renewal.

The dividend payment is for the financial year ending 31 December 2020. Despite the impact of COVID-19 pandemic, MVIL was able to pay 67 percent of the budgeted dividend of K63.2 million.

When presenting the figures, MVIL’s Managing Director, Michael Makap, said the pandemic derailed the company from its strategic direction, resulting in a low turnover compared to 2019.

The Prime Minister pointed out to Papua New Guineas that Opposition Leader Belden Namah voted against these two Bills – “which clearly shows his lack of care and concern for people of the country.”

The Bills are the Motor Vehicles (Third Party Insurance) (Amendment) Bill 2021 and Motor Vehicles (Third Party Insurance) (Basic Protection Compensation) (Amendment) Bill 2021. The two bills were passed 73-7 and 74-7 by Parliament and will:

MVIL Managing Director, Michael Makap said they are happy with PNGNRL promoting their safety road messages.

As part of Motor Vehicle Insurance Limited continued support to the PNGNRLC, the cheque of K250,000 to PNGNRLC will go towards supporting the PNGNRLC Referees in the country and its competitions.

 “We are grateful to MVIL for supporting us in this trying time. It will help us carryout our competitions and other programs that PNGNRLC is running in the country and these includes our referees,” said PNGNRLC chairman Adrian Chow.

“I am warning vehicle owners to fix their vehicles or be dealt with by Police,” warned Metropolitan Superintendent Anthony Wagambie Jnr.     

“This is a major cause of traffic accidents in the city.”

The Lae police boss, said traffic police, Morobe Land Transport Board, National Road Safety Council and MVIL will be working together in this traffic operation.

“I have taken keen interest and leadership in arranging the first meeting and involving everyone in this. We need to work in partnership to achieve road safety in Lae City,” Wagambie Jnr said.    

In a statement released by the ICCC, it stated that as a result, the premiums for high risk vehicles will slightly fall in 2016 compared to low risk vehicles.