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PNG

WORRY FOR PNG BUSINESS LEADERS

By Kevin McQuillan external financing is not a long-term solution, and a cheaper
option they say would be to establish a secondary debt
At a brief sitting of Papua New Guinea’s parliament in No- market for its securities and encourage broader participation
vember – with all Opposition MPs absent – the James Marape from retail investors.
government passed its 2021 Budget, before abruptly adjourn- The idea was promoted as long ago as 2012 by Vishnu Mo-
ing until next April. han, Chief Executive Officer, Pacific Northwest for ANZ.
Treasurer Ian Ling-Stuckey told the 51 MPs present in parlia- There has been little progress on this concept, say Laveil
ment that government expenditure was expected to reach and Dek.
K19.61 billion (US$5.58 billion) in 2021. “At the current yield of 12.5% for its 10-year treasury bond,
It was, he said, “a very substantial increase of 9%” on the it presents a very attractive investment option to many out
2020 fiscal year. there, especially in such a low interest-rate environment.”
“The domestic and international context for our 2021 bud- Ling-Stuckey also predicted GDP would grow by over 10.6%
get is the most challenging in our nation’s history. Since 1975, in the next two years, from K81.6 billion this year to K90.3
there has never been … a global crisis as the one we are now billion in 2022.
facing today,” he said. Meanwhile, some business leaders have expressed concern
The Budget for 2021 also reveals lower government revenue at the government’s ability to repay debt and the lack of
at K12.9 billion (US$3.67 billion), and the largest planned resource investment.
deficit of K6.63 billion (US$1.88 billion). President of the Port Moresby Chamber of Commerce and
The PNG government is looking at cheaper external financ- Industry Rio Fiocco says uncertainties are not helping busi-
he Fiji National University (FNU) five Colleges – namely the College lecture theatres, learning clinics and
is a dual-sector university and of Agriculture, Fisheries & Forestry, invested in complexes such as the ing options and deserves credit for that, given its record-high nesses to plan, because it’s unclear when proposed major
the premier tertiary institution College of Business, Hospitality new gymnasium complex and the debt level and heavy interest burden, say Maholopa Laveil, resource projects are likely to begin.
Tproviding vocational education & Tourism Studies, College of four-storey business school at Nasinu Economics lecturer at the UPNG and Dek Joe Sum Economics The budget showed that the government was expecting
and training and higher education Engineering, Science & Technology, Campus. In addition to this, we are also Lecturer at the ANU in Canberra, for the Lowy Institute.
degree programmes in Fiji and the College of Humanities & Education, in the process of constructing a three-
Pacific region. College of Medicine, Nursing & Health storey teaching and research building Seventy per cent of that debt will be raised externally, but Continued on page 25
Sciences – and the National Training at our Fiji Maritime Academy (FMA).
With over 300 programmes on offer & Productivity Centre and Technical
at FNU, the possibilities for students College of Fiji. In the digital landscape, our student
are endless, and you are sure to find a enjoy 24/7 access to superfast TRADE MARK CAUTIONARY NOTICE TRADE MARK CAUTIONARY NOTICE
programme aligned to your academic As Fiji’s national university we offer broadband wifi on campus through the
aspirations. inclusive and quality education to Fijian Government’s DigitalFiji platform. Notice is hereby given that Mistwalker Corporation of 711 Kapiolani IN MICRONESIA
all Fijians. This means that anyone To make the online administration Blvd., Suite 1000, Honolulu HI 96813, United States of America, is
FNU plays a significant role in who wishes to pursue tertiary studies process smoother and more efficient, the sole owner and proprietor in the Federated States of Micronesia Coors Brewing Company, of 3939 W. Highland Boulevard,
increasing and strengthening the skills in undergraduate or postgraduate we have also invested in the Ellucian and Palau and elsewhere of the trade mark below:
base of Fiji and regional economies. The programmes can do so at FNU. Those Banner 9 software. This means from Milwaukee, Wisconsin 53208, United States of America,
University also assists with the creation in the workforce will find that our next year, students can enrol, pay your does hereby provide notice that it claims proprietorship of
of entrepreneurs who become part programmes allow them to upgrade fees, check your grades and apply to FANTASIAN the trade mark
of the small and medium enterprises their qualifications, with flexible class graduate online using self-service
(SMEs) industry to boost the domestic times to accommodate their working systems. which is used in International classes upon or in connection with
economy. hours. the following goods/services:
Fee payment at FNU
FNU History Through the Tertiary Scholarship and At FNU, we understand the financial
FNU has a long and colourful history Loans Board (TSLB), Year 13 students impact COVID-19 has had on families Class 09: Computer game software for use on mobile and cellular
of relevant education dating back to can apply for the National Toppers Local and have made it easier by implementing phones; Downloadable electronic game software for use on mobile
the origins of its component Colleges Scholarship Scheme or the Tertiary flexible fee payment options. and cellular phones, handheld computers, and personal computers. in relation to:
through institutions that were Education Loans Scheme to finance Beers; mineral and aerated waters and other non-
established according to national their studies at FNU in priority areas Students can enrol at FNU in their Class 41: Entertainment services, namely, providing temporary use
needs. as listed by the Fijian Government. programme of choice and enter into of non-downloadable computer games. alcoholic drinks; fruit drinks and fruit juices; syrups and
Students, parents and guardians can a payment plan of agreed instalments other preparations for making beverages.
The guiding vision of the founding of visit our website or contact us in regards throughout the duration of their 2021
FNU was to bring strength to a national to TSLB-sponsored programmes at period of study with the University’s Mistwalker Corporation claims all rights in respect to the above Coors Brewing Company cautions that any use of the trade
university that drew from Fiji’s defining FNU. Division of Finance trade mark and will take all necessary legal steps against any mark or any confusingly similar trade mark in relation to any
legacies in education and training of person, firm or corporation counterfeiting, imitating, violating or of these goods, similar goods, or similar services would be
these originating institutions dating Facilities at FNU Our students will still be able to sit for otherwise infringing its rights in the Federated States of Micronesia
back to more than a century. At FNU, we continuously reassess our their exams in that year even if they and Palau. seen as infringement of their rights and that they will take
physical and digital infrastructure to have outstanding fees, as long as the such action deemed necessary to protect those rights.
Study at FNU ensure our students have the necessary fees are paid by the end of that year
FNU has courses ranging from spaces and support that enhances of study. This applies to our eligible MUNRO LEYS Coors Brewing Company can be contacted care of their
Certificate to Doctorate level at its their studies. We have upgraded current and prospective students. Lawyers & Notaries Public, Pacific House, Butt Street, address for service:
PO Box 149, Suva, Fiji
Contact us at FNU Email: trademarks@munroleyslaw.com.fj AJ Park, Level 22, Aon Centre, 1 Willis Street, Wellington
For further details, visit the FNU website: www.fnu.ac.fj or contact the following staff: www.munroleyslaw.com 6011, New Zealand
Nasinu Campus: Riteshni Singh | Email: sopo@fnu.ac.fj | Natabua Campus: Saleshni Chaudhary | Email: meofficer@fnu.ac.fj
Labasa Campus: Pardeep Lal | Email: hcl@fnu.ac.fj

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