This will also promote opportunities for a competitive residential property market.
PNG National Research Institute (PNGNRI) reports that currently, most materials that are used to build houses in PNG are imported from overseas.
The import duties placed on the materials tend to push up their prices and consequently, this increases the cost of building houses.
PNGNRI researcher for the property development research program, Professor Eugene Ezebilo, said there is a need to lower duties on building materials, equipment and machines.