Official calls for change of law

THE Micro Small Medium Enterprise (MSME) Council says the Investment Promotion Authority Amendment Bill must be tabled in the next Parliament sitting.
President Desmond Yaninen yesterday called on Commerce and Industry Minister William Duma to table the Bill which contained the reserve activity listing meant to protect local businesses.
Yaninen said the council would like to see businesses such as service stations reserved for nationals only.
“The council (is calling on) Duma to have a look at the IPA Amendment Bill,” he said. “It is important that it is tabled in the next Parliament sitting in June, with the reserved activity listing passed.
“Particularly, we would like to see service stations placed back on the reserve activity list to allow Papua New Guineans to operate in that space.
“A number of people operate services stations (around) the country and we believe that it’s a small investment.
“It requires less than K10 million to set up and run a service station.
“It is something that small businesses can do and that should be reserved for local only.”
Yaninen said SMEs promoted activities in the local economy.
“They support community programmes, haus krai, bride price ceremonies,” he said.
“All of that create employment.
“There is an impact in the social security of our people, there is an immediate impact of livelihoods of our people.”