Dede Sophie

 PNG Prime Minister Hon. James Marape has asked both Bank of Papua New Guinea (BPNG) and Puma Energy to find solutions to the strenuous business relationship they have that is now becoming a national security issue and a cause for concern about functioning of the economy.  He said the case of Puma being unable to maintain the supply of fuel products to its customers was because of ongoing issues with BPNG, for which the country was being held to ransom. PM Marape has asked BPNG, immediately after an urgent National Security Advisory Committee (NSAC) today (January 5, 2023), to find a short-term solution by lifting restrictions on Puma so that their supply of fuel products continue without compromising Central Bank’s fiduciary requirements. “I want to also inform the country and business that today, the Bank has the highest-ever level of foreign reserves (FX) of more than K13 billion – more than enough for a year,” he said. “That’s because my Government’s fiscal policies assisted in rai

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