Papua New Guinea to lose K1.5 billion in Business if COVID-19 SOE Continues

The Papua New Guinea government will lose close to K1.5 billion in the business sector if the State of Emergency continues in the country.

This was highlighted during a press conference conducted by Business Council of PNG while giving a comprehensive report on the impacts of Covid-19 and how it impacted the business sector.

Business council of PNG’s executive director Douveri Henoe says the month of April saw a significant decline in cash flow in the business sector due to the significant restrictions of movement.

Mr. Henoe says 66% of businesses will not have a positive outlook if the current operative environment remains.

He says from a survey conducted on the impacts of the pandemic brought onto the country’s businesses, employment and the government, K13.4 million of tax will not come back to government.

He called for an immediate uplifted to the State of Emergency and to get businesses running again to help bail the country out of a debt trap.

He says soon, other taxes will dry up at the national level and there will be no salaries for workers if the SOE remains.

FM100 / PacificMiningWatch

Next : Barrick Niugini Limited Denies Claims Regarding Gold Exports out of PNG
Previous Post Next Post