Roasted Kaukau and Creamed Ripe Banana is served with Fried Chicken and Creamed Kumu for K12.

Roasted Kaukau and Creamed Ripe Banana is served with Fried Chicken and Creamed Kumu for K12. 

You can order by texting or calling us on 76824760 or 72850006 within Port Moresby.

Wafi-Golpu Joint Venture MOU does not determine any issues of benefit sharing

The MOU signed between the Wafi-Golpu Joint Venture participants in the presence of Prime Minister Peter O’Neill is an important milestone in the project’s journey, but it does not alter or detract from the Development Forum or memorandum of agreement (MOA) process.

In a statement released the Joint Venture General Manager outlined the specifics to the process, in light of recent criticisms made public by the current Governor for Morobe Ginson Saonu.

“The MOU does not determine any issues of benefit sharing between the national and provincial governments or landowners: it only deals with matters between the PNG State and the Developers” said Grant Batterham, WGJV General Manager, Social Performance & External Affairs.

“All matters relating to Morobe Province and the landowners are being dealt with via separate negotiation and consultation process, including the Development Forum and MOA process.”

The main opportunity for provincial and landowner and aspirations to be discussed is through the Development Forum process facilitated by the Mineral Resources Authority.
Unfortunately, this process was suspended by the government following a court injunction that was issued in August 2018, which arose from an unrelated internal dispute within one of the SML Landowner communities, according to project developer.

“This injunction has been lifted just this week, and the WGJV looks forward to seeing the development forum resume as soon as possible. The benefits-sharing agreements reached through the development forum process will be documented in the MOA.
“The MOU does not replace any of the usual agreements that will need to be negotiated before any Special Mining Lease is granted.

“These are the Mining Development Contract (which outlines the fiscal and regulatory arrangements for the project); the MOA (which is an outcome of the development forum and deals with the distribution of benefits from the project); State Equity Acquisition Agreement (which is the purchase agreement for the equity to be acquired under the State’s option); and Fiscal Stability Agreement (which is an agreement providing long term fiscal stability for the project).

“Negotiations on all these agreements, together with progressing the development forum, will continue over coming months, involving all relevant parties,” Mr Batterham stated.
There is also an extensive Environmental Impact Assessment process underway (including public consultations), under the Environment Act, which is currently being assessed by the PNG Government.

The MOU is, however, a strong signal to investors of the PNG Government’s support for the Project, which will enable the WGJV to move forward with a program of works, including a bridge over the Markham River.

This will bring immediate infrastructure and other benefits to the Province.

Source: Post Courier newspaper

Agriculture Department seeks funds to battle beetle threats

Agriculture authorities have confirmed intentions to make a submission to National Executive Council for funding to deal with the Guam-biotype rhinoceros beetle that threatens the country’s coconut and oil palm industries.

Acting Agriculture Secretary Francis Daink, said the threat coming in for oil palm and coconut industry of the Rhinoceros beetle Guam strain is currently ravaging Solomon Islands palms.

“Oil palm is the biggest industry that we have that generates a lot of revenue for this country as per the sector is concerned,’’ he said.
“So that threat is now next door and we now need more money and we now ask the government again.

“We are doing an NEC submission through the department to make sure that we get money to support the activities for NAQIA OPIC and the coconut industry corporation.”
While he said it is currently next door, organisations such as the coconut industry regulator, Kokonas Indastri Koporesen, and even New Britain Palm Oil (NBPO) Limited have both confirmed its infiltration in the Southern region of the country.

In January this year NBPO proposed a partnership with the Department of Agriculture to counter fund research into the new pest threatening the oil palm and coconut industries via a tax credit arrangement.

In September NBPO chief execitive officer Jamie Graham also sounded a warning on beetle threat was eminent and also in the country as well.
When asked about the request for counter funding with NBPO, agriculture Minister Benny Allan acknowledged the request had been made and was still yet to reach cabinet for deliberation.

“They have written to us. I have a letter on my table they have written to us to work together again with them to make a submission to cabinet to get some funding to assist us to address this problem. It is in the pipeline,” Mr Allan said.

Source: Post Courier newspaper. 

APEC related agreements and investments worth K9 billion for PNG, report reveals

Post APEC 2018, the question on everyone’s mind still remains on how much we really did benefits from an event that had a hefty price tag of around K800.

PricewaterhouseCoopers (PwC) PNG released a much welcomed infographic report, last week, of how much all APEC related agreements and investments are worth, striking up a figure of almost K9 billion (US$3 billion) to come out of the meet.
Major APEC member investors in this infographic document include China, United States, Australia, Japan, New Zealand, and the Philippines.

Investments made by those countries were in areas of infrastructure, defence, education, health, agriculture, and disaster resilience.
The report provided five major point areas as to what all the investments made during the summit would means for the country.

Firstly that they would accelerate inclusive growth and create further benefits for PNG. In the short term, investing in hard infrastructure assets such as roads and electrification are essential enablers for economic growth and employment, and should see immediate benefits for PNG business.
“Over the longer term, investments in education and health will also be key in creating a more inclusive society, and accelerate participation in the formal economy.”
Secondly would be a spike in projects over the next decade, as most of the commitments are aimed at infrastructure projects.

“We can expect to see the benefits extend over the next decade. With proper management and funding, these projects could help drive PNG’s economic growth and reduce the boom and bust cycle we have traditionally seen in PNG.”
Thirdly, it emphasised the need for strong financial discipline and project economics as being crucial.

“While these projects will be largely funded by multilateral agencies, strong financial discipline and project economics will be required to ensure that these projects are successfully delivered.”

The fourth point, called for a balanced approach to public-private partnerships (PPPs), in reference to infrastructure projects in the country, that often have a government aspect.
“We can expect to see PPPs as a modality for delivering these projects. However, striking a balance between PPPs and private investments is crucial in ensuring that private business are not crowded out and discouraged from making investments in PNG.”
Last point to what it means for the country is a conducive environment for investment is necessary.

“While these commitments can transform PNG, the benefits are unlikely to be realised without an environment that is conducive to local and foreign investment alike.
“Priorities should include improving digital infrastructure, building the skills of our future workforce, and creating investment-friendly regulations that support entrepreneurial spirit and competition,” the report concluded.

Source: Post Courier newspaper.