No more tax concessions: PM

By SHIRLEY MAULUDU
PRIME Minister James Marape says there will no longer be any tax concessions given to companies in the resource sector.
Marape was speaking at the 8th Prime Minister’s back-to-business breakfast in Port Moresby yesterday.
“I have said many times, under my watch, I will not be encouraging concessions,” he said. “I might be forfeiting revenues for the future.”
Making references to the resource laws, Marape said he was happy the resource industry was open for discussions regarding proposed changes to certain resource laws.
“Our laws are one of the friendliest in the world,” he said.
“Amendments are coming and I am happy the industry was not too harsh on me.
“The industry has responded positively to some of the changes we are working on.”
However, Marape also appealed to investors to observe the resource laws that were currently in place.
“Discussions on P’nyang (gas project) are ongoing,” he said.
“That is ongoing on top of the two trains that we already have.
“I always tell our investors, whilst you are lobbying for your shareholders, my shareholders are the eight million people of this country.
“Our starting point is the present laws we have in our country.
“We’ve given concessions already in the Papua LNG, we’ve given concessions already in the PNG LNG.
“The least the country now demands and asks for is that you honour the laws we have in our land, just pay what is our fair share, our due and we have the agreement.
“All you have to do is look into our laws, the oil and gas laws and our revenue laws.”
Meanwhile, discussions for a gas agreement for the P’nyang project in Western between the state negotiating team and ExxonMobil PNG, is set to conclude today.