Minister for the National Gaming Control Board (NGCB), Manasseh Makiba, has challenged the Board and Management of NGCB to collect annual gaming revenue of K2 billion starting next year.
He made this remark during a welcome reception held at the Stanley Hotel in Port Moresby recently.
Minister Makiba was pleased with the Board’s performance and achievements for the past 27 years which are in line with the Government’s ‘take back PNG’ policy.
“The Board and Management must reach a target of K2 billion in revenue in 2023 and onwards and meet the Government’s aim for the country to become a K200 billion economy in the next 10 years,” Makiba said.
“I am pleased to know that the NGCB generates over K55 million monthly of which fifty five percent (55%) goes directly to the Government in the form of tax through IRC”
“I want the Board to keep this momentum but must set target to increase the revenue and assist the Government on the development phases of our country to be smart, wise, fair, healthy and a happy society by 2050,” he said.
The Minister further said that he will work with the Board and Management to create Investment and Dividend Trust Funds and certain percentage from the Community Benefit Fund 7% levy received monthly will be allocated to these two new Trust Funds.
“This is to assist the Board park aside funds and invest into businesses for sustainability in the long run,” Minister Makiba said.
The Minister is adamant that the Community Benefit Trust Fund ‘Give Back Program’ be revisited and changes be made to ensure funds are diverted to strategic development as well as consider investing into businesses as part of long term growth, development and sustainability of the Board.
“I am aware that NGCB has invested a lot into sports in the country, thus it is time we prioritize and look at ways to expand the industry and generate more revenue to support the Government in achieving the Vision 2050,” Minister Makiba said.
Furthermore, the Minister said the Gaming Control Bill 2021 is still under review and when completed, he will table it in Parliament.
“The new bill will include proper regulation of other gaming such as casino, online gaming, sports betting lottery and other games,” he said.
He said the core functions of NGCB is to regulate all forms of legalized gambling activities and stop illegal gambling that will affect people’s lives.
“The NGCB will be working around the clock in 2023 to monitor and close all illegal gambling activities,” Minister Makiba said.
NGCB Chief Executive Officer, Imelda Agon said NGCB makes millions of kina for the country and it stands to serve the 8 million plus people of this country.
“I stand together with my management team who has been working tirelessly behind the scene to ensure we serve the government and the people of PNG,” CEO Agon said.
The CEO said the management team will be working closely with the Board to meet the target set by the Minister.
