IPA needs restructure, says Juffa

THE Investment Promotion Authority (IPA) needs to be restructured to have an enforcement and prosecution function, says Northern Governor Gary Juffa.
Juffa said the restructure was to protect the interests of Papua New Guineans “because it is not doing that”.
He was contributing to the debate in Parliament on the Business Group’s Incorporation amendment bill and the companies’ amendment bill tabled by Commerce and Industry Minister William Samb.
“The IPA needs to refocus so that it not only encourages investment and registering companies, leaving them to do as they please,” Juffa said. “Restructure needs to take place so that it must also have an enforcement and prosecution function as well.
“A number of foreign-owned companies actually register as Papua New Guinean companies and attract the benefits of Papua New Guinea companies.
“But they avoid certain taxes and liabilities, permits and licenses that are required of them as foreign-owned companies, and operate at will.”