Dede Sophie

Acting Governor of the Bank of Papua New Guinea Benny Popoitai has warned that developing economies, like Papua New Guinea would be adversely affected with high prices due to lack of social safety net programs and limited financial resources to minimize the impact, as economies are still recovering from the impact of the COVID-19 pandemic. Global inflation increased significantly in the first half of 2022, due to rising fuel and gas prices, and food grains reflecting the impact of the Russia-Ukraine war. PNG Central Bank /File Photo  In the Quarterly Economic Bulletin December Quarter 2021, Mr. Popoitai stated that the higher prices are expected to remain elevated as Russia continues to show no signs of ending the war in the near future. In light of this, the Government has introduced temporary relief measures, including raising the income tax threshold and providing tax exemptions on essential refined fuel products to relieve consumers of higher fuel prices. NBC News / PNG Today Next ...

Funds from  the  PNG Marape-Rosso government’s Tuition Fee Free policy are yet to hit the accounts of schools in the national education system. Education Secretary Dr. Uke Kombra had said last week, the department received two warrants totalling K396 million, and expected the funds to be deposited into schools accounts later that week. However, this is yet to happen, and a good number of schools are operating on a credit basis to get learning and teaching materials on time for normal classes this week. Schools are appealing to parents to ensure their children’s needs in terms of stationery and uniforms are met before sending them for classes. Principal of Wardstrip Primary School in NCD Rotona Girana said they are operating on credit basis. “Right now I have my teachers distributing the materials. That’s on credit. Because I’m assured that the TFF is paid, then I have an arrangement with my service providers. When it comes, I will pay. So no fees are paid....