The price of fuel has increased further this month since the start of 2025 with fuel consumers now having to dig deeper into their pocket to pay for fuel. According to the country’s consumer watchdog, the Independent Consumer and Competitions Commission (ICCC), this increase was due to outside factors, having a more significant impact. The is due to the increase in average crude oil price caused by reduced supply from the Organization of Petroleum Exporting Countries (OPEC) and the fresh sanctions imposed by the United States on Russia’s supply to Asia. This then led to the Indicative Retail Prices for petrol, diesel and kerosene increase on average throughout the country. As a result of adding all the various cost components, the maximum retail price movements for petrol, diesel and kerosene in Port Moresby will increase as follows: · Petrol K4.41 per litre from K4.30 per litre in January; a 11 toea increase. · Diesel K4.27 per litre from K4.07 per litre in January; a 20 toea increase. · Kerosene K3.94 per litre from K3.76 per litre in January; an 18 toea increase. For all other centres, the maximum retail prices for each regulated petroleum product have all increase on average consistent with the increases observed in Port Moresby city. The changes are according to their quarterly approved domestic freight rates for the first quarter of 2025, and their respective annual retail margins for this year. The ICCC also states that as part of its enforcement and compliance of fuel prices, its Investigative Officers will conduct inspections to all service stations to ensure prices of declared petroleum products comply with the allowable maximum prices in the country. The ICCC officers will also conduct compliance inspections in Lae, Mt. Hagen, Kokopo and Port Moresby cities. Inspection Administrators in other provinces will be supported by ICCC Agents and respective Provincial Administration in those provinces.

Local exporters in the agriculture sector can expect some good prices for their cash crops with Papua New Guinea (PNG) expecting another strong year, especially with global coffee prices hitting a 50-year high just two months ago. This is according to the Kina Bank Chief Executive Officer (CEO) and Managing Director Mr. Ivan Vidovich when sharing this positive outlook at the recent 2025 Back to Business Breakfast in Port Moresby city on Tuesday, February 4th, 2025. “While agriculture is expected to perform well, international hot spots like the Middle East and Ukraine will continue to disrupt global supply chains. These challenges highlight the fragility of global supply networks, and PNG is affected by this,” Mr. Vidovich said. He added that PNG can be protected from such external risks with sensible policies and close collaboration between the Government and the private sector. “We enter 2025 with uncertainty in the global economy and in the geopolitical landscape,” Mr. Vidovich said. “The global economy continues to navigate uncertainties, with a second Trump Presidential term, China’s slowing growth, and geopolitical hot spots potentially sparking commodity price volatility.” He added that the PNG Kina-US Dollar inter-bank rate will continue to adjust downwards through the Bank of PNG’s instituted ‘crawling peg’ regime. “In 2024, the BPNG provided intervention into the market on a regular basis which helped authorized foreign exchange dealers to clear import orders in a timely manner. We observed that through the second half of 2024, delays for import orders reduced on average from months to weeks,” said the CEO.emm He added that as a result of the continued re-adjustment of the PNG Kina, PNG’s agriculture exporters can expect another strong year. “Global Coffee prices hit a 50-year high just two months ago. 2024 was a strong year for cocoa growers in PNG. Price increases are projected to be double digits in the coming year.” Mr. Vidovich emphasized that Kina Bank is committed to working with key stakeholders to boost activity in the agriculture sector and bring these benefits to PNG. Meantime, he said gold prices are also set for another solid year trading above US$2,000 an ounce, as geopolitical tensions and uncertainty continue to keep gold prices elevated.

The Late Sir Julius Chan has been finally laid to rest at this home in Huris, Manmantinut in Namatanai district, New Ireland province after seven (7) days of mourning as per his will. Today, saw the casket containing the body of the “Last Man Standing” placed into the tomb made just outside his home, ending a weeklong funeral program of one of Papua New Guinea’s founding fathers. The burial today marked the completion of a journey from New Ireland to Port Moresby and back again to Kavieng, where the journey along the famed Boluminski Highway completed at Sir Julius’ home yesterday. There he stayed overnight for the last time at his home before he was laid to rest. A funeral service was conducted today on the premises of the Late New Ireland Governor’s home where Prime Minister James Marape, his wife, cabinet ministers, fellow Members of Parliament, the New Ireland Provincial Government members, plus other delegates and the people attended. There at the funeral service, his son Mark Chan on behalf of his family thanked the Government of Papua New Guinea (PNG) for honoring his father, for giving him a State Funeral and for finally bringing him home to New Ireland. “Sir Julius, your people loved you,” he said, when reflecting on the reception he received coming back to the province and the many tributes from the rest of PNG. He said his father’s legacy along with that of his friends that brought PNG’s independence, will live on. “Your gift; our sovereignty.” Meanwhile, perhaps the most significant part of his final journey home was the presence of his wife, Lady Stella Chan, who returned to the country from Australia where she was receiving medical treatment. She was at their home waiting for the casket to arrive so she could spend the last time with her beloved husband before he was laid to rest. The Late Sir Julius Chan passed away last week Thursday 30th January in New Ireland province. His body was then flown to Port Moresby city on Friday 31st January where the State Funeral program was accorded to him to allow PNG to mourn and pay its final respects. He was then flown back to New Ireland on Monday 3rd February where the National Government handed over his body to the Provincial Government. For the next two days, his people had their time to mourn and pay their final respects where a traditional haus- cry ceremony was also conducted. Yesterday, his body was transported to his home in Huris where he was finally laid to rest this afternoon.

Before his passing the Grand Chief late Sir Michael Somare commissioned carvers in Angoram in East Sepik Province to carve a gift for the late Sir Julius Chan on the occasion of the country’s 45th Independence and the opening of the New Ireland Provincial Assembly in September 2020. Sir Michael’s long time Press Officer Mr. Rodney Kamus recalled the story behind the carving of late Sir Julius which was Sir Michael’s last gift to Sir Julius that now still stands tall in the New Ireland Provincial Assembly House in New Ireland. He said the 2020 PNG Independence celebrations on September 16th fell on the same date as the opening of the new assembly and the late Sir Michael presented only one carving to Sir J to be kept in the new assembly. “There were three carvings made and only one was presented to the late Sir J and the other two stayed back in Wewak. Five months after that memorable occasion Sir Michael Passed away and that was probably his last gift to Sir J. Today I walked back into the Assembly to pay my final respects to the late Sir J, and I had goose bumps seeing the carving of Sir J still standing as Sir J lay in the Chambers in his home province,” Mr. Kamus said.

Fellow colleagues of the Late Sir Julius Chan paid respect to him today at the National Parliament Grand Hall, a solemn moment for the leaders who have just lost a very senior politician. PM James Marape in his tribute speech acknowledged the massive contribution Late Sir Julius made to the country 50 years ago, saying he served the country with loyalty and distinction. "He served distincfully in his capacity, not just as a Governor, not just as Minister, but rose to chief servant serving the office of the Prime Minister, the second Prime Minister." "Today, he comes into this grand hall of our parliament for the last time." The PM also thanked the people of New Ireland and the family of the Late Sir Julius Chan for allowing him to serve the country and the people. "Sir Julius, your country mourns your passing as you come to stay with us today," the PM concluded. Meantime, the casket of the Late Sir Julius Chan will depart parliament for the APEC VIP Terminal to fly back to his home in New Ireland province.

All schools, businesses, and workplaces across Papua New Guinea are advised to dedicate time to honor and reflect on the legacy of the late Right Honorable Sir Julius Chan, GCL, GCMG, KBE, PC, on Monday, February 3, 2025. Prime Minister James Marape says this national tribute will coincide with Sir Julius Chan’s lying in state at the Grand Hall of Parliament, allowing Papua New Guineans a solemn moment to reflect on his life, leadership, and contributions as the country’s second Prime Minister. Prime Minister Marape emphasized that this period of reflection is a sign of deep respect for one of the nation’s founding fathers, who dedicated over 50 years of service to Papua New Guinea’s governance, economy, and development. “I urge all Papua New Guineans to take this time to reflect on the immense contributions of Sir Julius Chan, a statesman who played a vital role in shaping our nation,” said Prime Minister Marape. “From 9am to 12pm, I request that schools and workplaces across the country dedicate this time to honor his memory, reflect on his lasting impact, and acknowledge his contributions to Papua New Guinea.” Prime Minister Marape also reaffirmed that the national flag remains at half-mast for seven days of mourning as the country farewells one of its most influential leaders. “Sir Julius Chan was a pillar of leadership and economic vision for Papua New Guinea. Let us stand together as a nation to honor his life and legacy,” he added. "All citizens, institutions, and organization are encouraged to dedicate time for reflection and respect as a final mark of gratitude to a leader who helped shape Papua New Guinea’s path to independence and beyond.”

Negotiations into the Community Development Agreement (CDA) for the Central Cement & Lime Project, commenced on Thursday January 30th for all the parties involved in this project in the Central province. The negotiations of the project based at the Hiri-Koiari District, is expected to last for a week before initialization of the CDA by all parties. The parties are the Kido Landowners Association, Rearea Landowners Association, Hiri Rural Local Level Government (LLG), Central Provincial Government, the State and the developer Mayur Resources Limited. The first two days of meetings were graced with the presence of the Governor for Central Province, Rufina Peter, and Member for Hiri-Koiari, Keith Iduhu. Mr. Iduhu and Governor Peter told stakeholders that they were in support of the project as the project is going to impact the district, province and the country. They said they were ready to lead their people into realizing benefits out of the project. Benefits that are being negotiated include royalties, Special Support Grants (SSG), Tax Credit Scheme, Business Development Plan (spin off benefits/contracts for landowners) and infrastructure development. Meantime, the National Government expects that the CDA will be signed by the parties in the first quarter of this year and will be one of the highlights of the nation’s 50 years independence celebrations, besides Porgera and Wafi Golpu projects.

The official State Funeral Programme for the Late Sir Julius Chan was released today to the public after close consultation with the family the Late New Ireland Governor. Prime Minister James Marape confirmed today that the updated State Funeral Programme was released, following discussions with his family. “Yesterday, we received Sir Julius’ body from Kavieng, and together with Speaker Job Pomat and Opposition Leader Douglas Tomuriesa, we led a delegation of national leaders. After placing the body at the funeral home, we sat with the family to finalize funeral arrangements,” said Prime Minister Marape. “The National Government initially planned a State Tribute in Parliament, aligning with the seven-day notice requirement for a parliamentary recall. However, his family was firm in honouring his will—that he be buried within seven days in Huris, his home village in New Ireland. “Sir Julius designated three days for the National Government, three days for the province, and burial on the seventh day. “In light of his explicit wish, we had to, in tears, let go of the intention to hold a grand farewell in Parliament. Instead, Parliament will dedicate its first sitting in March to condolence messages and recognition of Sir Julius’ lifetime of service,” Prime Minister Marape said. FUNERAL PROGRAMME Saturday, February 1, 2025 – Public Memorial and Cultural Observances 3:00 PM – New Ireland Community Programme at Kopkop College, Gerehu (Public welcome) 7:00 PM – Programme ends; casket remains at Erima Funeral Home overnight. Sunday, February 2, 2025 – State Funeral and National Haus Krai. 1:00 PM – 3:00 PM – State Funeral Service at St. Mary’s Cathedral (PNG Defence Force Ceremonial Guard present) 5:00 PM – 9:00 PM – National Haus Krai at Sir John Guise Indoor Stadium (Tributes, cultural presentations, and speeches by national leaders, including Prime Minister Marape) Monday, February 3, 2025 – Lying in State at Parliament and Departure to Kavieng. 9:00 AM – 11:00 AM – Lying in state at Parliament Grand Hall (State dignitaries and MPs pay respects) 12:30 PM – Casket departs Port Moresby for Kavieng (19-Gun Salute by PNGDF at APEC VIP Terminal) Tuesday, February 4, 2025 – Provincial Funeral and Customary Observances. 9:00 AM – 6:00 PM – Public Mass in Kavieng, followed by customary processions (Tikana, Konos, Namatanai, and arrival at Huris at sunset for overnight stay at his residence) Wednesday, February 5, 2025 – Burial at Huris, New Ireland. 11:00 AM – Burial service for the Late Rt. Hon. Sir Julius Chan at Huris, his home village Honouring Sir Julius Chan’s Legacy. “National leaders, MPs, and party leaders will speak on behalf of their constituencies and political parties at the National Haus Krai,” Prime Minister Marape said. He acknowledged Sir Julius' significant role in shaping Papua New Guinea, calling him one of the last surviving members of the first post-independence leadership team. “As Prime Minister, I will personally accompany Sir Julius’ body to its final resting place on Wednesday. The Government will honour him while staying true to his final wish,” Prime Minister Marape said. “When Parliament reconvenes in March, the first two days will be dedicated to recognising his immense contributions to Papua New Guinea. “We owe him our gratitude for a lifetime of service. He was a visionary leader, a founding father, and a statesman who shaped our history. The nation will take this time to reflect on his legacy and give him the farewell he rightfully deserves. “May Sir Julius Chan rest in eternal peace.”

The casket of the Late Sir Julius Chan, the Governor for New Ireland Province, arrived in the nation’s capital Port Moresby city at around 4:45pm this afternoon from the provincial capital, Kavieng. He was accorded a guard of honour by the Papua New Guinea Defence Force (PNGDF) followed by a customary reception conducted by the New Ireland community in Port Moresby before the body was handed over to the State for formalities of a State Funeral to commence. The customary ceremony was led by a Maimai or a Chief from the New Ireland community in the city, where he acknowledged the Government of Papua New Guinea and reflected on the work of the man who he described as a Kwila Tree, a strong pillar from which his family grew and of course, the service to Papua New Guinea (PNG) that he gave until his last breath. Following the ceremony, the casket containing the body of the Late Sir Julius was then handed over to the State where Prime Minister Marape graciously received. "On behalf of the country, I thank you the family, the people of New Ireland province, and Namatanai for allowing a leader of the country to come back to the nation’s capital," said the PM. "Sir Julius, welcome home to your nation's capital. We look forward to send you off well." There to receive the body along with Prime Minister Marape was the Opposition Leader Douglas Tomuriesa, the Speaker of Parlaiment Job Pomat, the National Capital District (NCD) Governor Powes Parkop, the Chief Secretary to the Government Ivan Pomaleu and Members of Parliament for New Ireland province along with the family of the Late Sir Julius Chan. The body was then taken to the Funeral Home at Erima where he will stay awaiting a formal funeral program to be put together in the coming days. Earlier, Prime Minister Marape and the Speaker of Parliament Job Pomat in a press conference held at the parliament house, made it clear that there is no official funeral program yet until the family of the Late Sir Julius and the State representatives sit down to discuss on how it should go about. While this in progress, the PM already declared a week of mourning and ordered for all PNG flags to be flown at half-mast throughout the country as a mark of respect for the Late Sir Julius.

The Prime Minister is expected to make an announcement at noon today on the official funeral program of the Late Sir Julius Chan. The Prime Minister, James Marape and the Speaker of Parliament, Job Pomat will be making this announcement in a press conference at the National Parliament. The Late Sir Julius Chan, who was also the sitting Governor for New Ireland province, peacefully passed away at 12:30pm on Thursday afternoon at his home at Manmantinut, Huris. He was 85 years old. Last evening at the official launching of the 50th Independence Anniversary Logo and Theme, the prime minister announced a week of mourning the Late Sir Julius. “It will be a State Funeral. He is no ordinary man; he is the second Prime Minister of our country. So, there will be a week of mourning, it will be announced at the parliament precinct.” Meantime, the body of the Late Governor of New Ireland is expected to arrive in Port Moresby city by this afternoon at around 1pm.

The 50th Independence Anniversary Logo along with the Theme was officially launched this evening, marking the start of preparations for the big celebration coming up in September. Prime Minister James Marape who officiated at the launch said it is a time to also remember the forefathers who sacrificed so much to ensure Papua New Guinea (PNG) eventually gain independence in 1975, one of whom just passed away earlier during the day- the Late Sir Julius Chan. The PM used the occasion to pay tribute to the man dubbed “The Last Man Standing”, saying it was through the efforts of such inspiring and charismatic leaders that the country is now marking its 50 years of being and free and independent state. “Today, we gather at a pivotal moment in our nation's history. As we stand on the threshold of our 50th Independence Anniversary, we are reminded of the remarkable journey that has brought us to where we are today. “We celebrate our independence, won on September 16, 1975, after years of struggle and determination. We honour the sacrifices of our founding fathers and mothers, who fought tirelessly for our nation's sovereignty.” Marape, reflecting on the tremendous contributions of the Late Sir Julius, said he would have been so proud of what he and his fellow visionary leaders had done 50 years ago. The PM said the family of the Late Sir Julius informed him to go ahead with the official launching this evening despite his passing, stating that it was something their father would have wanted to see happen. Meantime, the launching took place at the National Parliament witnessed by the Members of Parliament and invited guests and delegates, including foreign missions and military personnel. The theme, “Celebrate Our History, Inspire Our Future” along with the 50th Anniversary Logo, was launched with a spectacular display of fireworks and digital light show at the doorsteps of the National Parliament in Port Moresby city.

The official launching of the 50th Independence Anniversary Logo and Theme this evening at the National Parliament in Port Moresby city will instead be now focused on paying tribute to the Late Sir Julius Chan. New Ireland Governor Sir Julius passed away this afternoon at his home in his province. Prime Minister (PM) James Marape made the announcement this afternoon of his passing and sent condolences to the immediate family of Late Sir Julius, his people of Namatanai, the Leaders and the people of New Ireland province. There will be no fireworks, and no music as initially planned for the launching event this evening said the PM. Instead, there will be a video presentation reflecting on the Late Sir Julius Chan and the Late Sir Michael Somare as well, making the launching event a somber occasion. “We sit down, announce his passing. We mark the week of house cry,” declared Prime Minister Marape. “It will be a State Funeral. He is no ordinary man; he is the second Prime Minister of our country. He assisted Somare birthing our country. So, there will be a week of mourning, it will be announced today at the parliament precinct.” The PM also called on Members of Parliament who are currently in Port Moresby to come to the National Parliament at 6pm this evening to join him and the rest to pay tribute to a great leader, dubbed "The Last Man Standing". “Let’s all show respect to Sir Julius, make him the center piece of our program this evening.” “May his soul rest in eternal peace. He is gone but he will not be forgotten,” concluded the PM.