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BPNG conducting seminars
BANK of Papua New Guinea is conducting seminars around the
country on reforms in foreign exchange controls to liberalise
certain areas of exchange controls through exemptions from the
Exchange Control Regulations. This means that the regulations
are still in place and can be re-imposed as and when required by
BPNG. These exemptions became effective last Sept 3.The major
exemption relates to contracts for borrowing and investing
overseas by companies and individuals who will no longer require
approval from BPNG. “We want to inform the business community
and the public through these seminars that we are liberalising
these exchange controls now, which means that they will not come
to BPNG to get approval but we will stress and give emphasis on
the reporting of those transactions,” acting governor of BPNG
Loi Bakani said.
Boito refuses to sign petition
NEWLY elected MP for Obura-Wonenara John Boito refused to accept
an election petition served on him on Monday. A representative
from a para-legal service went to the Goroka airport to serve
him the petition, which he refused to accept. Mr Boito was about
to board a flight to Port Moresby. The petition disputing his
win was filed by an unsuccessful candidate Robert Gall. Instead,
Mr Boito demanded that a professional lawyer or a policeman
serve him the court papers. The case is scheduled for direction
hearing at the Waigani National Court next week. Mr Gall is
alleging undue influence, bribery, threats and usage of firearms
in the election of Mr Boito, and is seeking a by-election.
Teine to operate from home
KUNDIAWA-Gembogl MP Joe Mek Teine prefers to operate from the
district office and not from Parliament. Mr Teine told a huge
crowd recently at Papnigle that his office space was now
undergoing major renovation and that he would be working with
the people. He said that he would be actively involved in
delivering goods and services to them. Mr Teine said that people
must take the initiative to help themselves before the
Government came in to help them. He added that currently there
was no money in the district account but next year when the
district gets money from the National Government, many projects
would be started.
Housing scheme applauded
PUBLIC Service Minister Peter O’Neill and National Housing CEO
Paul Asukusa have welcomed the initiative taken by the National
Superannuation Fund and Bank South Pacific to improve members’
opportunity to own homes. Mr O’Neill said housing was a priority
and for Nasfund to allow its members to participate was in line
with Government directions. Mr O’Neill said the Government would
take the lead as the Prime Minister had given a clear direction
that housing for public servants and private sector employees
was a must.
Govt urged to attract investors
A COUNCILLOR in the trouble-torn district of Nebilyer, Western
Highlands province, has called on the new MPs and the National
Government to make the country conducive for development and
attractive for more foreign investment. Paul Wak, a councillor
in the Nebilyer local level government for the last 26 years,
said leaders must fix the law and order problems by making
amendments to the constitution and giving more powers to the
courts to impose tougher penalties on offenders. He said that
due to weaknesses in the judiciary, people were escaping without
facing tough penalties. 
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