by Quinton Alomp – EM TV, Port Moresby
Motor Vehicle Insurance Limited’s (MVIL) recent move into Lorengau, Manus province, is seen as a way to improve internal revenue.
Over the years, the province has benefited little from vehicle registration.
Manus Governor, Charlie Benjamin, said with the landmass and a population less than 100, 000, options for generating money for the provincial government apart from the national government grants are minimal.
But Benjamin said the extension of MVIL’s services to Manus will be an option for vehicle owners to register their vehicles in province.
MVIL Chief Executive Officer, Joe Wemin, said from all internal revenue collected from the vehicle registration, the province will retain 95%, while five per cent will go to MVIL operations.
With the opening of Manus branch yesterday, MVIL now has presence in all provinces around PNG.
This state owned entity is providing compulsory third party insurance, registration of vehicles and issuance of driver’s license.
MVIL Chairman, Dr Ken Ngangan said it’s important to register vehicles to make sure you are secured from road accidents.