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PAPUA NEW GUINEA NEWS, FACTS, INFORMATION, STORIES AND INSPIRATIONS

O'Neil's Condolence Message to the Late Rt. Honourable Sir Julius Chan, GCL, GCMG, KBE, PC and Governor, New Ireland Province and Former Prime Minister

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By: Peter O'Neil, MP. My speaking notes at the Funeral this evening of the Late Rt. Honourable Sir Julius Chan, GCL, GCMG, KBE, PC and Governor, New Ireland Province and Former Prime Minister Lady Stella Chan, Vanessa, Byron, Mark and Toea and your extended family Thank you for giving us the opportunity to pay our respects to this Great Leader of our country and our people.   Sir Julius as known to all of us, was a man amongst men. A leader of leaders and a statesman who dedicated his entire adult life contributing enormously to nation building.   As one of the founding fathers, Sir Julius served his country and people well. A service to his community and his stance on good governance are his public legacy. Shining examples of not just doing what is good for our people but also ensuring it is done right.   Doing the right thing is not always the easy thing but Sir J demonstrated over and over that this doing the right thing by Papua New Guinea was the only cou...
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Petroleum Resource Kutubu (PRK) presented a mock cheque of K120 million to mark the completion of its legacy taxes.

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LANDOWNER COMPANY  SETTLES K120 MILLION LEGACY TAX LIABILITY  Internal Revenue Commission PNG Wednesday, 08 February 2023. Petroleum Resource Kutubu (PRK) presented a mock cheque of K120 million today to mark the completion of its legacy taxes.  PRK’s had tax disputes since 2011, and in 2019, all of these issues were resolved, resulting in a total tax liability of K120,758,504. Given that this was a considerable amount to pay, the Commissioner General placed them on a structured payment plan based on their cash flow. The final monthly repayment was made in January 2023, marking the complete settlement of the debt.  PRK is a subsidiary of Mineral Resources Development Company (MRDC). It was incorporated in 1989 under the Companies Act to hold the landowners and provincial government equity interest in the Kutubu Petroleum Project. PRK currently holds a 6.75% stake in Petroleum Development License 2 (PDL2) and 1% of PNG LNG.  At a small but significant press confe...
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Location: Papua New Guinea
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Full speech: Australian Prime Minister Anthony Albanese's Address to Papua New Guinea's Parliament

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