Business Council President Urges Government Action Following Unrest and Looting in Port Moresby12/1/2024
The President of the Business Council of Papua New Guinea, Mrs. Susil Nelson-Kongoi, has expressed deep concern over the recent wave of looting in Port Moresby. Business houses in the capital city suffered significant financial losses, with millions of Kina lost in a single day, primarily due to public pressures related to tax increases and glitches in the public servants' payroll system. Mrs. Nelson-Kongoi is appalled that the business houses in the Nation's Capital were left unprotected on Wednesday, January 10, 2024, resulting in properties being lost in fires and extensive damages through looting. Highlighting the impact on the private sector, Mrs. Nelson-Kongoi emphasized that Papua New Guinea is already a challenging destination for investments and relies on the private sector retailers to conduct business. She noted that all businesses targeted during the unrest are homegrown PNG businesses that employ local citizens. "All businesses attacked yesterday and today are PNG businesses, which are homegrown, employ Papua New Guineans, and one person employed has a ripple effect of feeding ten," said Mrs. Nelson-Kongoi. Owners of retail shops in the National Capital District (NCD) have voiced their concerns, citing the significant role retailers play in providing essentials, bearing foreign exchange burdens, and contributing to the country's economic sustainability. Mrs. Nelson-Kongoi mentioned that companies like City Pharmacy Limited, Brian Bell, and others have maintained operations through lines of credit and supplier trust, but the recent events have strained relationships with some suppliers, impacting the business sector. In response to the situation, the Business Council President called on the government to implement security measures and impose tougher penalties to safeguard retailers from losses and damages caused by violence, as witnessed recently. Mrs. Nelson-Kongoi emphasized that the consequences of the looting would extend beyond business owners, affecting every employed individual and putting a strain on the government's revenue. Urging swift action, she emphasized the need for collaborative efforts to ensure the protection and sustainability of the business sector in Papua New Guinea. Also read Comments are closed.
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