Agreement covers cost for registration of 200 vehicles

AN estimated 200 public motor vehicle (PMV) owners in West New Britain will now pay less than K1,000 in registration under a memorandum of understanding (MOU) signed between Motor Vehicle Insurance Ltd (MVIL) and Governor Sasindran Muthuvel.
Speaking during the MOU signing yesterday in Port Moresby, Muthuvel said, from the Covid stimulus package given to the province, K200,000 from K500,000 for small to medium enterprise (SME) packages would be paid to MVIL to subsidise the cost of PMV registration.
Muthuvel thanked the Government for allocating that stimulus package and in that package they had given K2 million to every district and K1.5 million to the provincial government.
“Out of the K500,000 meant for SMEs, we allocated K200,000 to subsidise registration for PMVs.”
MVIL managing director Michael Makap thanked Muthuvel for the initiative and encouraged other provinces to do the same.
“The MOU is a win-win arrangement where PMV operators will benefit from the subsidy arrangement provided and MVIL will generate income on behalf of its shareholder the Government,” he said.
“It’s very difficult for people to pay the registration fees which is close to about K3,000 just to register a PMV. That’s a huge amount of money for small businesses to pay so your initiative is great.”