Losses at K600mil

By PETER ESILA
AS the dust of Black Wednesday settled over Port Moresby, businesses counted their losses at over K600 million, and climbing.
Undaunted by the enormity of their losses, the businesses, led by the Brian Bell Group and CPL Group, immediately set about with recovery and rebuilding plans.
Meantime, police continued advising residents of Port Moresby to return any stolen property in their possession and have set up a hotline for the purpose.
Port Moresby businesses that had suffered included the Brian Bell Group, City Pharmacy Ltd (Stop N Shop and Hardware Haus), Steamships, Eliseo, Desh Besh, Big Rooster, Papindo, J Mart, Bismillah and Tan Trading.
PNG Chamber of Commerce and Industry president Ian Tarutia said although what happened had dented PNG’s image internationally, it was encouraging that the attitude of bigger businesses now was to rebuild.
“While some businesses have implemented disaster recovery and business continuity plans to keep operating, financial assistance is needed immediately.
“This will be the conversation with the Government,” Tarutia said.
“PNG peak business bodies and heads, and representatives from affected business houses met on the weekend to discuss options for the Government to consider in response to its public announcements to rebuild Port Moresby businesses destroyed by last week’s looting and the burning down of properties.”
He said a business delegation would meet this week with Prime Minister James Marape, Treasurer Ian Ling-Stuckey and National Capital District Governor Powes Parkop to convey the business community’s suggestions for safety, recovery and rebuilding.
“Businesses have stressed that the State is liable for the actions of its police force. The Government needs to work out its funding source to cover for claims that will no doubt be instituted by affected business houses,” Tarutia warned.
Parkop had said he would put in a submission to cabinet seeking financial support for businesses that had suffered losses.
Meanwhile, the political ramifications of the riots and looting last week were continuing.
Governors Allan Bird (East Sepik), Powes Parkop (NCD), Sir Peter Ipatas (Enga) and Garry Juffa (Northern) said in a Facebook post that they had met in relation to the disturbances last week.
What they might have discussed was not revealed.