PM: Govt won’t hurt industry’s profit margin

Business

THE Government will not hurt the profit margins of the mining and petroleum industries, says Prime Minister James Marape.
Marape told The National that his government would work with the industries to ensure that the country remained an attractive place for the industry to operate.
He said it would do so while looking for ways which enabled the country to get more from resource projects as it was now trying to implement new reforms in the mining and petroleum sector.
Marape said the Government would also continue to hold consultations with the industry on the new reforms.
The PNG Chamber of Mines and Petroleum had put out a public statement asking the government to postpone the proposed organic law for the industry which it feared would put Papua NewGuinea’s economy and future at risk. Responding to this, Marape told The National that: “If they have a view on the proposed amendment, than we will consider those views.
“We are not in haste to do things without their input or consultation,” he said.
“They are an important part and this law will serve them and serve us so if there is a view that they need to be further consulted, then we will consider that view. I have already indicated that in any of the reforms that we are doing, most of the substantial amendments will come into play in 2025 when the nation celebrates 50 years of independence.
“We will not hurt or harm their profit margins.
“In business, there is a thing called rate of return of investment so we will work in the industry to make sure that we remain an attractive place for industries to operate in.”

4 comments

  • In the move to review mining and petroleum laws PM, review our Labour and Immigration Laws as well. Most of this mines are filled up with less or unqualified cronies of expat mine managers who become line managers or supervisors (from mostly native English speaking countries).

    If we have to improve ourselves lets not import skills sets we can source and provide locally. Most of this foreigners are getting paid obviously 3 or 4 times more than their national counterparts in their currency and are evading our government tax.
    Some of this jobs are safety Advisor and Officers jobs, Managers/Supervisors with technical trades back ground-carpentry, welding, plumbing, machine operators including fake accredited University Certificates i.e Security Engineering-My goodness what kind of a course is that and where in the world would you get a degree in security engineering to get employed as a security manager in a PNG mine.

  • Hahaha! I would like to apply for that course, which institution offered that course, and how much does it cost? Security Engineering, “incase of trouble we will run together instead of protecting property and people.

  • Mike, Ok like I’ve said “We will run together in case of trouble and forget about property and people” Security Engineering we will run together.

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