2016 has been a trying year for businesses in the country. Many have laid off workers; and many face the threat of business coming to a standstill if immediate action is not taken.
Over the past months, businesses have pleaded with the government to intervene. But their pleas are yet to be addressed.
Papua New Guinea’s lack of foreign currency is not a new issue and is a problem for all, however, the private sector has felt the brunt of the storm.
Many PNG companies, reliant on imports are unable to pay their suppliers and have lost business because of the issue.
Earlier this year, Michael Kingston, from the country’s oldest manufacturing company, KK Kingston, expressed his concerns about laying off workers. Today, Helifix Operations CEO, Robert Agarobe, expressed the same concerns.
Mr Agarobe stated that in addition to this, the government owes his business a significant amount of money.
Like Helifix, many businesses feel that their pleas are falling on deaf ears. They worry that if this isn’t solved, their businesses may soon face inevitable closure.