THE Microfinance Pasifika Network announced the fourth Pacific microfinance week 2013 (PMW 2013) to be held in Nadi, Fiji, from Oct 21-29.
This follows the inaugural Pacific microfinance week in Port Moresby in 2007 and the one held in Vanuatu in 2011. PMW 2013 will be a weeklong series of events, meetings and gatherings of a range of organisations and individuals who want to promote the provision of inclusive and sustainable financial services in the Pacific. Attending the event are more than 150 delegates representing microfinance institutions, domestic government agencies, credit unions, community-based institutions, commercial banks, mobile network operators, central banks and regulators, development banks, insurance companies, educational and research institutions, donor groups, NGOs, hardware and software providers, consultants and professional service firms. Papua New Guinea will be represented by a number of organisations including Bank Papua New Guinea, Nationwide Microbank, Microfinance Expansion Project, PNG Institute of Banking and Business Management Inc, PNG Women in Coffee Inc and consultative implementation and monitoring council. “Several PNG speakers would address Pacific delegates with insights on significant issues influencing access to financial services, including creative and practical ways to build women’s leadership in the sector and best practice in financial literacy education as shown by the PNG Centre for Excellence in Financial Inclusion,” Foundation for Development Cooperation (FDC) network manager Shawn Hunter said. The PMW 2013 is organised by FDC, together with major event sponsors including Pacific Financial Inclusion Programme, Asian Development Bank and International Finance Corporation. The National CONSTRUCTION work began last Friday on Air Niugini’s new eight-storey, 60-room residential apartments at the Jackson Airport complex..
The apartment project is expected to reduce the national airline’s monthly expenses on staff housing and accommodation costs of more than K3 million. The location of the building next to the Air Niugini head office near Jackson Airport is expected to improve on-time performance of the airline’s pilots and cabin crews since they would be residing close to the airport. Acting chairman Sir Fredrick Reiher said it was critical for the airline to develop its own assets for the management to produce greater in-house efficiencies. “Cost savings that could flow into generating better customer experiences actually begin with a project like this,” he said. Chief executive officer Simon Foo said the new building was closely aligned with the company’s strategy to reduce operating costs, while building a stronger asset base. “We are under enormous and continuous pressure to cut airfares and the only way to do this is to rationalise and consolidate our operating costs,” he said. He said Air Niugini was among a few airlines in the world that had to provide housing for its staff. “We have hundreds of staff members and their families scattered all over Port Moresby in all sorts of accommodation and as you can imagine that the administrative costs associated with this arrangement are burdensome,” Foo said. The project is scheduled to be completed in 2015. The residential tower is being built by Matrix Constructions PNG and will feature a mix of one-two and three bedroom apartments, a cafe, gymnasium and swimming pool. The project is scheduled to be completed in 2015. The National Port Moresby: Esso Highlands Limited (EHL), operator of the PNG LNG project, said today the
project is more than 90 percent complete and is on schedule for first delivery of liquefied natural gas (LNG) during the second half of 2014. “With more than 19,000 people currently working across the project, including more than 7,500 Papua New Guineans, we are making significant progress,” said Decie Autin, PNG LNG project executive. “Antonov cargo aircraft operations into Komo airfield were completed on 13 August 2013, and installation of equipment delivered from Komo to the Hides Gas Conditioning Plant is currently under way. “We have started the commissioning phase at the LNG plant in preparation for the first LNG production in 2014. This includes sending gas from Oil Search’s Kutubu Central Processing Facility to the LNG plant to provide power and enable testing and commissioning of key facilities and equipment. “Drilling at Wellpad B is complete, and the drilling rig is being moved to the next wellpad to support further drilling activity,” Ms Autin said. As forecasted last year, the estimated cost of the project remains at US$19 billion (excluding Port Moresby administration facilities and shipping), reflecting disciplined project management in a unique and challenging working environment. “ExxonMobil successfully develops projects around the world under a broad range of technical, operational and financial conditions,” Ms Autin said. “The project has been able to maintain its schedule in PNG under unique and challenging circumstances. Our focus on disciplined project execution has allowed us to meet our scheduling commitments without further cost increases.” EHL continues to assess and advance new expansion and development opportunities in PNG |
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