I WORK in an industry that imports most or almost all of its materials from overseas.
While some big industries are not really attentive on the prices of imported goods and services, my company, being small and an upstart one, is.
In the midst of my normal day-to-day activities, I asked for a quote for a sheet of metal from one of our local suppliers.
I acquired for the same steel we delivered them five months ago and did not expect much of a price change.
Upon receiving the quote, I compared the prices and realised that the price has increased from K980.28 to K1881.01, which is almost a 92 per cent increase from the original price.
I can now understand the hardship that businesses in the country are facing.
Some mining companies will continue to operate even under the current conditions because they are exempted from import duties. But non-mining companies in Papua New Guinea do not have that luxury are therefore greatly affected.
These can result in the laying-off of employees to reduce operating cost, thereby adding stress on the employees staying on to work harder by taking on more load.
These are signs of the times and if we have not been praying hard for change, then it’s time to pray harder.