Puma also to be hit by tax

IF the Government is not careful with its implementation of the fiscal policy on taxes and import duties, it will force existing downstream processing industries to close down.
By then, PNG will be an extended market for finished consumer products produced abroad such as in Singapore and elsewhere.
Among those being threatened by 2022 Budget is the Puma Energy oil refinery, previously under Interpol Ltd, which did not live to see it’s dream of producing gas to liquid when it’s upstream business was taken over as Papua LNG, under Total.
All major importers such as Shell and BP closed its doors when Puma came into operations while Mobil Oil has been flexing its muscle on importing heavy diesel under piggy back arrangements ever since and still has 40 per cent of the PNG domestic market.
Why would the Government succumb to Mobil’s interest to import PNG’s total fuel requirements if Puma Energy is forced to shutdown its downstream policy?
Where would the fossil fuel energy security for the country be parked in this volatile period?
That tax has to be reviewed by the new government the August of 2022 before its too late.

Observer
NCD