Paulus Ain

The Independent Consumer and Competition Commission (ICCC) CEO, Paulus Ain said it will run for eight months.

The review will imposed on the next regulatory period commencing 2018 - 2022.

“Because MVIL has a monopoly in the supply of CTP motor vehicles insurance, the contract, which is binding on the ICCC and MVIL, allows for the regulation of MVIL’s CTP premiums and service standards to ensure that they are reasonably fair,” Ain said.

He commended MVIL in establishing offices in all provincial centres nationwide.

The MoU paves the way for both parties to work together and enforce the consumer protection, completion, and economic regulation work for the ICCC.

Under the MoU, a Business Development Officer (BDO) within the Commerce Division of the Provincial Administration will be formally recognized and resourced as an ICCC appointed agent to perform the monitoring and enforcement function of the ICCC.

The BDO will work in close collaboration with the ICCC’s Highlands Regional office and will be guided and required under the MoU to undertake 11 main activities.

Ain said this following the signing of his employment contract on November 29 at Government House.

He reiterated what he said a year ago following his appointment as Acting Commissioner that it was his goal to bring back credibility to state regulatory bodies.

“As I had stated when taking over office last year, I want to bring back the credibility of the ICCC and trust and confidence of the regulated entities. Above all, I want to ensure that there is vibrant competition in our economy and the interests of our consumers are protected,” he said.

Acting Governor General Theodore Zurenuoc executed on behalf of the State, an employment contract for his permanent appointment in Port Moresby yesterday.  

Ain’s employment contract is for a period of five years effective from August 4, 2015 to August 4, 2020.

The appointment is in line with the ICCC Act 2002.

The signing ceremony was witnessed by acting ICCC chief executive officer Avi Hubert.

Opposition leader Don Polye said the ICCC must plan to create a win-win situation for the seller and the buyer within the context of current economic challenges.

He said the ICCC needs to upgrade their programs and introduce a new strategy to prescribe minimum (standardised) pricing for oil (fuel, gas) related trade in PNG. 

“The ICCC should not lay back and play a “wait and see” role as the determinants for world oil prices are clear which show that the oil price will not come up beyond US$50 per barrel quickly for the medium term. 

The Commissioner and CEO of ICCC Paulus Ain made this call in light of the significant fall in the retail fuel prices since last year.

He said that from July 2014 to November 2015, the global crude oil prices had decreased by a total of 69%, while over the same period the domestic retail prices for petrol, diesel and kerosene had decreased cumulatively by 36.1%, 48.0% and 47.6% respectively. On average the domestic fuel prices had decreased by 43.9%.

The fall in domestic retail prices had benefited the business houses and general fuel consumers.