Business Council presents first quarterly update

THE Business Council of Papua New Guinea has put together its first quarterly business report providing an update on the country’s private sector performance.
Executive director Douveri Henao said it was done by observing the trends in sales, investment, employment, consumer and insurance products in PNG.
“We have a very strong, credible, amount of people that participated in this engagement (report),” Henao said.
“And because of their participation, this information does demonstrate that we are able to give a fact-based picture on how the business is in the country for the first quarter or how it has performed.
“The commercial banks, the financial advisory services, superannuation funds, insurance and private equity firms, actively participated in this engagement.
“The only one that was not part of the financial services was the retail sector. I would just like to highlight what we grabbed from this discussions.
“Trends in sales, trends in investment, trends in employment, trends in consumer and the last one is on insurance trends as well.
“So this basically forms the basis of this first quarter report.”
The report was attributed to the engagement of council’s members in the financial and retail service sector which comprises the majority of commercial banks, financial advisory services, superannuation funds, insurance and private equity firms.