PNG Economics Bulletin

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Prime Minister Marape Emphasises Commitment to Securing Maximum Benefits for PNG in Wafi-Golpu Mine Development

Prime Minister Marape Emphasises Commitment to Securing Maximum Benefits for PNG in Wafi-Golpu Mine Development Port Moresby, 18 March 2025 – Prime Minister Hon. James Marape has reinforced...

MINISTER FOR WORKS AND HIGHWAYS RESPONSE TO CENTRAL GOVERNOR’S CONCERNS ON THE CONNECT PNG PROGRAM

The Marape – Rosso Administration acknowledges the concerns raised by the Governor for Central Province in the news media on the 4th March 2025, regarding security risks associated with the...

Captain Beverley Pakii Sets New Milestone as Papua New Guinea’s First Airbus A220 Captain

Air Niugini’s Captain Beverley Pakii continues to record milestones in the aviation industry, this time becoming the first Papua New Guinean Airbus A220 Captain after successfully completing her type...

Santos Reviews CEPA Directive for K50 Million Compensation to Kutubu Landowners

Santos, the operator of the Kutubu oil fields says it is reviewing a direction by the PNG lead  environment regulator to pay millions of kina to Kutubu landowners for damages to two river...

MRA Management, Staff Welcome New Mining Minister Wake Goi

The Mineral Resources Authority (MRA) management and staff officially welcomed the newly appointed Mining Minister, Hon. Wake Goi MP, to the MRA on yesterday.  Minister Goi, who serves as the...

Bougainville Labour Mobility Alumni Celebrate Successful Pilot Program

Bougainvillians returning from seasonal work in Australia are leveraging their newly acquired skills and earnings to launch agricultural projects and businesses within their communities. Recently...

Santos announces refinancing of syndicated debt facility

Santos this week announced it had executed documentation to refinance its 2025 maturing syndicated bank loan facility. Santos holds leading shares in the PNGLNG Project following the successful merger...

Twinza’s Pasca A Gas Project on the cards to boost PNG Economy: PM satisfied with Progress

Prime Minister James Marape yesterday convened with State Lead Negotiator Dairi Vele yesterday to discuss key developments related to the Pasca Gas Condensate Project, located offshore from Kerema...

Kina Asset Management Ltd Declares Record Interim Dividend for 2024

Kina Asset Management Ltd (KAML) has announced a historic interim dividend of 20 toea per share for the half-year ending 30 June 2024, following a strong net profit of K9.9 million. This record...

TIPNG WELCOMES ANTI-CORRUPTION STRATEGY

An anti-corruption work-plan by a Government agency has been praised and welcomed by the PNG chapter of  Transparency International.

The National Economic and Fiscal Commission (NEFC) last week launched its anti-corruption strategy, a rare strategy devised by a government entity to fight corruption from within.

The fight against corruption in Papua New Guinea can only be successful if each person and organisation takes on the responsibility to strengthen their integrity. These were the sentiments expressed by Transparency International Papua New Guinea (TIPNG) at the launch of the National Economic and Fiscal Commission (NEFC) Anti-Corruption and Integrity Strategy 2022-2025.

“If you ask any head of agency in Papua New Guinea as to what is the major impediment to their ability to deliver, they will almost certainly identify corruption as being a concern. And yet, there are almost no agencies that have developed an internal anti-corruption strategy to address this concern. The National Economic Fiscal Commission is one of the few state agencies that has taken on this challenge, with the launch today of their Anti-Corruption and Integrity Strategy 2022-2025, and for that they must be applauded,” said Peter Aitsi, TIPNG Board Chair, in a media statement.

The NEFC is established under the Constitution and defined under Section 117 of the Organic Law on Provincial Governments and Local-level Governments. The Commission’s overarching role is to advice the national government on economic and fiscal matters. In the launched Anti-Corruption strategy, NEFC has a strategic vision to be a leading institution built on integrity, professionalism and accountability that promotes an anti- corruption culture to ensure fair and equitable distribution of wealth to all Papua New Guineans.

The objectives of NEFC’s Anti-Corruption & Integrity Strategy are based on four (4) key focused areas:

  1. Strengthening & mainstreaming intergovernmental funding systems
  2. Ensuring accountability, transparency, and compliance
  3. Promoting effective anti-corruption leadership and practices
  4. Fostering an anti-corruption culture

TIPNG signed a memorandum of understanding with the NEFC on 7th September 2021 to develop an agency-level anti-corruption strategy. This initiative is part of TIPNG’s Promoting Anti-Corruption and Integrity Strategies (PAIS) Project funded by the European Union to strengthen public trust in national integrity institutions.

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