After operating for 123 years in the country, the Westpac Bank has said that it will not be packing up and leaving as previously considered but continue to stay for as long as it can and providing much needed banking services to the people of Papua New Guinea (PNG). The Westpac Group announced this week that the bank will retain its Pacific business (comprised of Westpac Fiji and Westpac PNG), continuing to grow alongside its customers and the economies in both countries. Westpac believes it has a great role to play in this very important region with its ability to be a strong, stable and trusted financial partner in the Pacific. Westpac Pacific Managing Director, Damien MacRae, said “Westpac has proudly supported Fiji’s and PNGs economic growth and development for more than a century and we are well placed to continue this support.” The decision means Westpac will continue to support the local economies and local businesses, improve digital and service capabilities for customers and deliver important community programs in financial literacy and education. “Westpac has been a part of PNG’s history for more than a century and will proudly continue supporting customers and businesses to grow and succeed into the future,” said Westpac PNG Chief Executive, Brett Hooker. “Westpac Group’s decision to retain the business is a vote of confidence in the future of PNG.” Meanwhile, Westpac Bank’s humble beginnings in PNG starting on May 10,th 1910 when two young men established PNG’s first commercial bank, setting up shop as the Bank of New South Wales on Douglas Street, Port Moresby. From that time onwards, the bank grew and expended to become the now Westpac Bank.

A cash amount of K5million has been wired from the Treasury to pay off the remaining royalties owed to the Sirinumu landowners as initial payment for the K15million outstanding royalty being demanded. That was the assurance given by Prime Minister (PM) James Marape in parliament this afternoon when responding to questions from Member (MP) for Hiri Koiari, Keith Iduhu on the issue this morning up at the Rauna power stations. "The landowners at Sirinumu dam have taken over the Sirinumu Power Station and water supply. This has now affected power and water supply to Port Moresby city residents," said Mr. Iduhu. The MP had asked what has been done so far today to resolve this matter. PM Marape in response said the three ministers for Commerce and Trade, Finance, and State Enterprises will be meeting with the MP and Governor for Central after the parliament sitting to discuss and move forward with this matter. At this stage, the PM said the K5million should be given to landowners first while the ministers and parties involved, work on releasing the remaining K10million. The K15million outstanding demanded for by the landowners is the remaining amount of a K25million total, of which K10million of that amount was paid some years back. Since then, the landowners claimed that the remaining K15million has not been paid, leading to the blockade put up by the landowners this morning. It is hoped that the K5million would appease the landowners for the time being so that the blockade can be removed and power and water resume normal supply to Port Moresby. Currently, the city is going through power load- shedding and water rationing since this morning.

The American Chamber of Commerce Coral Sea (AmCham Coral Sea) is linking the United States Department of Commerce with businesses in Papua New Guinea (PNG). At a September 14th business event hosted by AmCham at the Grand Papua Hotel, U.S. Department of Commerce visiting representatives spoke with businesses about promoting commercial engagement and exploring new opportunities in the region. Visiting Regional Senior Commercial Officer, Mr. Steve Knode said the ultimate goal of the U.S. Commercial Service is fostering commercial partnerships that boost economic growth and engagement between the United States and PNG. The entity offers services such as the Advocacy Center, which helps identify commercial partnerships within the U.S. market and the SelectUSA program, which supports the attendance of delegations of businesspeople interested in entering or investing in the U.S. market at trade shows. The annual SelectUSA Investment Summit promotes foreign direct investment in the United States for those interested in entering the U.S. market. The U.S. Commercial Service has one representative in Port Moresby, with additional staff around the region.

The stage is now set for the final showdown in the Moni Plus Port Moresby AFL 2023 Cup season, following a successful preliminary final match held just over the weekend at the Colts Oval. Port Moresby AFL Association President, Mr. Douglas Lai said the weekend preliminary matches saw the University Tigers beat the Lamana Dockers in the A Reserve, while the Gordons Kokofas defeated the Gerehu Magpies in the A Grade. Both the Magpies and Dockers now bow out of the 2023 season following their defeats. “For this weekend’s grand final matches, the Gordons Kokofas will meet the Gereka Bombers in the A Grade grand final and in the A Reserve, the University Tigers will meet the Gordons Kokofas.” He also added that most of match time over the weekend went well except for a few rowdy Kokofas supports who caused some trouble on the sidelines. He said the association members will be dealing with this matter later. The grand final matches for the two divisions will take place this Saturday, 07th October at the Colts Oval. Meanwhile, the AFL National Championships is coming up in November in the city of Port Moresby and the president is confident that when selections are made for the National Teams for the International Cup 2024 (IC24) after the Championships, most of the Port Moresby based players will be considered to make the teams because of the excellent season and the performance they displayed.

The official opening of the new Tomodachi International Airport Terminal just outside Lae city, will go on as planned after the landowner group of the land where the airport sits on were convinced to remove the blockade, which they put up this morning to the airport terminal. According to the representative of the Orognaron Clan Mr. Simeon Toboly, the blockade set up in front of the entrance into the parking area, was to show their frustration on a legacy issue which he said dates back to the early 1970s. Mr. Toboly said the frustration was over a land lease agreement that was signed in 1973 with the administrator of the territory of Papua New Guinea (PNG), which was later honored by the PNG government after independence. However, he claimed that the State stopped doing this in 2013, and with the new terminal to be opened soon, that made them angry because they still don’t know why the agreement was no longer honored by the government. That led to them putting up the blockade. Nevertheless, the blockade was eventually removed, all thanks to proper negotiations and mutual understandings reached. The Chief Operating Officer (COO) of the National Airport Corporation (NAC) Mr. Manuai Kametan said they met with the landowner group a couple of days earlier. “We had a little bit of an issue the last couple of days which we normally have, this is not new. Each time we have an airport opening we have similar situations arising, it’s really how best we manage that, and we did try our best and we had meetings prior to today,” said Mr. Kametan. “This morning we had landowners’ senior group came up and we had a meeting in our office, and we basically tried our best to iron out the difference that we have and what we can do for them and what they can do as landowners to ensure that the opening of the airport facility goes without hiccups tomorrow.” He said the successful outcome of the negotiation today was very encouraging for NAC because all parties went away satisfied after the small ceremony, where the NAC presented bales of rice, sugar, flour, a cow and K5, 000 to appease the landowner group after the negotiations this morning. “They were happy with that, and we assured them that at the end of the project, once the terminal is operating, they will be given first priority in terms employment and contractor work. We will try to help them in that space in terms of capacity building and capability.” The official opening of the newly furbished international terminal will take place tomorrow, Monday 02nd October.

The Minister for Commerce and Industry wants to see local businesses, including the Small and Medium Enterprises (SME) expend and to meaningfully participate in trade and investment, but for that to happen, a technological and financial strength support platform is needed. Minister Henry Amuli said this when addressing international audiences recently at the launching of the Industries Integrated International Trade Flow System in Abu Dhabi in the United Arab Emirates (UEA). He said that the platform does not only provide the opportunity for corporate businesses to grow but it also has the potential to facilitate the growth and expansion of the SMEs. "As one of the founding members of the platform, it is my hope and expectation that it will bring forth innovative, inclusive and sustainable mechanisms that will empower Papua New Guinean SMEs to participate meaningfully and productively in the global market,” Minister Amuli said. The platform is an initiative of the Dubai based Investment Company, International Business Management Council (IBMC). He said SMEs in Papua New Guinea (PNG) lack the appropriate requirements to meaningfully integrate into the international economy. These include market access, quality assurance, mobility infrastructure and finance. "It is my hope and expectation that the Industries Integrated International Trade Flow System would provide solutions to these challenges,” he said. The three main objectives of the platform are to provide support to participants in the areas of market access, compliance with best international practices, finance and quality assurance. Minister Amuli said while quality control, compliance to international standards, best practices, and finance and quality assurance would be addressed by the platform, the challenge for the Ministry of Commerce and Industry and PNG is mobility infrastructure like efficient transport means, competitive import and export facilities and processes, including taxation and customs.

The weeklong inaugural Momase Regional Youth Games (MRYG) held in Madang, not only saw the youths engaged in sporting contests, but the local businesses also engaging and benefiting from the whole event. A total of 30 markets were registered to sell food, beverages, other items and products from locals from Madang as well as East Sepik and Morobe provinces. It was a mixture of informal and Small and Medium Enterprise (SME) markets set up alongside the sporting venues. Amongst the market vendors was a young female entrepreneur, “NB Sales,” from Madang who was selling variety of drinks, doughnuts, bilums, blouses and other items. She said the event has contributed positively by providing a bigger market for the informal business operators and the SMEs, to generate funds to sustain their livelihoods at the end of the day. “Though it is not in a big economic scale, at least what we make here gives small interest and buying powers to keep us moving. Most importantly, we enjoy watching our teams playing against other districts,” she said. There were also market stalls showcasing diverse products from the famous Karkar Bilums, printed T-shirts displaying traditional crafts designs, and blouses.

The Moni Plus Port Moresby AFL 2023 Premiership Cup season is slowly winding down with the preliminary finals set for this weekend at the Colts Oval. Following last weekend’s major and minor semi- finals, the teams that have proceeded on to the preliminary are the now gearing up to do battle for a spot in the grand final. According to the President of the Port Moresby AFL Association Mr. Douglas Lai, the A Grade preliminary final will see the University Tigers meet the Lamana Dockers while in the A Reserve, the Gordons Kokofas will meet the Gerehu Magpies. All in all, the 2023 season has been quite good since the COVID Pandemic disrupted the previous seasons. “We had a good run to the season, and we are happy that the season is almost complete,” said the president. He also said that most of the teams have, for the first time in the competition, made it into the finals season apart from the same ones that usually do. “They are new teams going into the finals and it has shown as well that we have developed as a game,” said Mr. Lai. Meanwhile, the National Championships is coming up in November in the city of Port Moresby and the president is confident that when selections are made for the National Teams for the International Cup 2024 (IC24) after the Championships, most of the Port Moresby based players will be considered to make the teams because of the excellent season and the performance they displayed.

The Kuriva community in the Central province will now benefit from a mini solar power grid to an ambulance service all thanks to Papua LNG and its partners to ensure basic services reach the communities they operate in. Firstly, in partnership with the USAID Papua New Guinea Electrification Partnership Activity, Papua LNG embarked on a solar electrification project to provide a 42-kilowatt renewable energy mini-grid for the St John Bosco - Kuriva Primary School and the Kuriva Sub-Health Centre, which was commissioned on Tuesday 26th September. The Managing Director of TotalEnergies EP PNG Limited, Mr. Jean-Marc Noiray said the reason for them providing this support is because health and education are the backbone of any society, as they ensure the future of the next generation. “I am pleased to inaugurate this project for the Kuriva Primary School and the Kuriva sub-health centre, which demonstrates among the many social benefits, the jobs and value creation that projects like ours can bring to our neighbouring communities, so we may prosper together,” he added. Also, Papua LNG is committed to improving the education and health services in its surrounding Project communities in cooperation with the Papua New Guinea Forest Authority (PNGFA), to progress Afforestation / Reforestation (A/R) and forest conservation activities at the Kuriva forestry station. This relationship was further solidified through the signing of two pivotal agreements on August 22nd between TotalEnergies EP PNG Limited and PNGFA. Additionally, PNGFA Chief Operating Officer Mrs. Magdalene Maihua together with Mr. Noiray, announced at the event that the Kuriva community will also benefit from a St John Ambulance team to be based at the Kuriva Health Centre as part of the project’s initiative. Meanwhile, to commemorate the newly stationed ambulance service, the keys were ceremoniously handed over to the Member for Hiri-Koiari Keith Iduhu by the Deputy Commissioner of St John Ambulance Ms. Jacquie Hennessy and TotalEnergies EP PNG Limited Business Director, Dr Sangkaran Ratnam. TotalEnergies EP PNG Limited, as operator of the Papua LNG Project, is fully committed to delivering an exemplary Papua LNG Project, with a strong focus on sustainability, enhancing biodiversity and encouraging low carbon emission solutions.

Pacific Island Tax Administrators have been urged to incorporate innovative approaches and work together with partners from the regional and international, in order to better reform and enhance their own tax systems. The outgoing Chair of the Pacific Island Tax Administrators Association (PITAA) Executive Committee and proxy to the Chief Executive Officer (CEO) of Fiji Revenue and Customs Services, Ms. Kelerayani Dawai, gave this urging to the Tax Administrators at the opening of the 20th PITAA Annual Heads Meeting in the city of Mount Hagen on Monday 25th September. “The Pacific region, with its unique characteristics, will play an increasingly significant role on the global stage, our responsibilities are substantial, but so too are our abilities,” Ms. Dawai said. She said by combining this with improved cooperation among tax authorities, policymakers, development partners, businesses and others, will enable the pooling of expertise, resources, and perspectives, leading to the development of innovative strategies that promote sustainable taxation practices, thus contributing to social and economic goals nationally and regionally. “This provides a platform for exchanging ideas, sharing best practices and developing strategies that will contribute to a sustainable future for the Pacific.” Meanwhile, when delivering the keynote address, the acting Prime Minister (PM) William Duma called on tax administrators to embrace strategies that collect taxes fairly while nurturing businesses that generate revenue. “In the realm of fiscal sustainability, our nations grapple with the challenge of maintaining financial stability while striving for development,” said Mr. Duma. “The stability and growth potential of tax revenue sources must be explored, as overreliance on volatile sources can destabilize our fiscal standing. “To uplift the well-being of our people, we must efficiently extract a significant portion of our economic activity through taxation, an endeavor that necessitates improvement in tax administration.” The Acting PM also highlighted the need of tax systems to adapt to the rapid technological advancements by embracing it to accomplish efficiency and precision. A total of 44 delegates are attending the annual meeting from 13 PITAA member countries and 11 partner organizations. The meeting concludes on Friday 27th September.

The inaugural Momase Regional Youths Games (RYG) is well into its third day of events today with youths from the various districts of the four provinces of Morobe, Madang, East Sepik and West Sepik participating in Madang town. Themed “Go Rural, Go Global,” the Youth Games ensures that young people right at the ward level participate in such programs to display their raw talents, engaging in sporting activities and also in traditional dances and dramas. Meanwhile, the opening ceremony on Monday 25th September saw a beautiful display of cultural attires and dances from the region, with performers from Bulolo in Morobe Province, East Sepik Province, West Sepik and Rivo in the North Coast of Madang. The Malamal Primary School students of Madang also sang and exhibited their traditional dances and dramas . The opening ceremony was graced with the presence of the Minister for Youth, Religion and Community Development, Jason Peters, RYG Chairman and National Youth Development Authority (NYDA) Director General Mr. Joe Itaki, and Madang Mayor Mr. Peter Yalsi. Also attending the opening was Executive Director of Papua New Guinea Sports Foundation, Mr. Albert Veretau and Chief Censor, Jim Abani.

The National Parliament has confirmed the passing of the sitting Member for Dei Open, the late Steven Pim, who passed away at the Pacific International Hospital in Port Moresby yesterday. The late Member’s passing also marks the second People’s National Congress (PNC) Party member to have died this year. The first was the Member for Maprik, the late Gabriel Kapris who passed away just last month also in Port Moresby. The late Member was first elected to the 11th National Parliament in the 2022 National General Election for the Dei Open as a PNC party candidate. He was the shadow minister for Petroleum and Mining under the Lelang-Tomuriesa led opposition. He was also a member of Public Works and 2022 General Elections Parliament Committees under the Marape-Rosso cabinet, 1st term in this Parliament. Condolence messages have started to come in from people and from fellow Members of Parliament. Meanwhile, the electorates which will go for by-election will now be eight, with the inclusion of Dei Open.