Govt to bring back ‘reserve list’

 THE Government is committed to bringing back the reserve list so that certain businesses will be reserved for only Papua New Guineans, Prime Minister Peter O’Neill says. 

He said the Government would put together legislations to protect businesses which only locals could operate. “Over the next few weeks, minister (Richard) Maru and myself will sit down and organise the agriculture bank (National Development Bank),” O’Neill said. 

“We will make sure that we recapitalise that together with other subsidiaries to make sure we can truly lend to Papua New Guineans over the next few years. 

“We will put legislations in parliament, where we will protect our own businesses.

“We are going to re-introduce the reserve list.” 

Trade, Commerce and Industry minister Richard Maru urged the Government to increase investment in the SME sector.

“I call on the prime minister to seriously invest in the SME sector. 

“We cannot always depend on the resource sector.”