WNB govt continues subsidy

THE West New Britain provincial government has continued its Public Motor Vehicle (PMV) subsidy arrangement with the Motor Vehicle insurance Ltd (MVIL).
In Port Moresby yesterday, MVIL chief operating officer Bafino Koi thanked WNB Governor Sasindran Muthuvel for the continued partnership.
Both MVIL and the WNB government entered into the PMV subsidy memorandum of understanding (MOU) arrangement on July 8, last year.
“Under the one-year arrangement, the West New Britain government initially earmarked a PMV subsidy funding of K200,000 which was parked with MVIL.
MVIL facilitated the subsidy arrangement consistent with all existing MVIL registration and compulsory third party insurance requirements.
“The beneficiaries of this initiative are the PMV owners and operators of West New Britain,” Koi said.
“Since the commencement of the PMV subsidy arrangement, the WNBPG through MVIL has subsidised the registration and third part insurance cost of a total of 1,883 PMVs that sought registration and insurance cover over a period of 10 months.”
He said the funding had been used and MVIL had provided the WNB government regular reports on the initiative.
Muthuvel said there was a lot of positive feedback on the subsidy arrangement and had decided to replenish the subsidy funding with another K200,000.
Koi said the MOU was a win-win arrangement.