NIP benefits from credit scheme

MORE than K20 million worth of tax credit scheme (TCS) projects completed during the first quarter of 2016 have improved the lives of the people in rural areas of New Ireland.
This has been through the development of school infrastructure and improved health facilities and roads.
The projects, which funding comes from the Lihir gold mine operation,  are part of the New Ireland government’s social development plan.
Newcrest chief executive officer, Sandeep Biswas, who attended the official opening of the Nusa Parade road last month, told guests including Governor Sir Julius Chan that such improvements to the lives of the people of New Ireland indicated the good working relationship that currently existed between all stakeholders of the Lihir Gold operation.
Sir Julius said the good relationship with Newcrest had seen many development projects completed. He  anticipates more projects under the scheme.
It is understood that many resources companies, mainly producers and tourism operators in PNG, contribute directly to the maintenance of essential infrastructures such as for schools, health and roads and bridges through the tax credit scheme.