By GLADYS KILA
IN a significant move to bolster the local economy, the government has announced a K1 million financial assistance package for Big Rooster impacted by the unfortunate events of January 10th 2024.
This marks a third phase of an ongoing support program aimed at helping business owners recover and rebuild.
The government’s total financial commitment for 2024 stands at a staggering K270 million, which has been allocated to various initiatives designed to support affected businesses.
The assistance program has unfolded in three phases: the first phase provided direct salary support for employees, the second assisted businesses with cleaning and preparation for rebuilding, and the current phase focuses on restocking and reconstruction.
Acting Chief Secretary to Government, Mr. Ivan Pomaleu emphasized the importance of supporting the business community.
“Today’s cheque of K1 million is a token of our commitment to help local businesses through these challenging times,” he stated.
“While this amount may not cover all the losses incurred, it is a vital step toward recovery.
“We continue to work within the budget constraints and framework, noting the priorities of the government, but the support is ongoing,” said Pomaleu.
In addition, the Acting Chief Secretary noted, as of late 2024, K33.4 million has already been disbursed from the second phase of the assistance program, with an additional K17 million remaining for clearance processes within the Department of Finance.
A well-known local business (Big Rooster) owner and Managing Director Salim Chamadia expressed gratitude for the support.
“We appreciate the government’s efforts to help us rebuild. It’s been a tough journey, and this assistance is a much-needed boost,” he remarked, acknowledging the ongoing challenges with refinancing and recovery.
Chamadia said, Big Rooster is a Papua New Guinea owned multi store fast food business with deep roots in the local market and strong brand recognition.
“As part of our long-term vision, we are undertaking a structured succession and growth palm to ensure continuity, sustainability and future expansion.”
This robust support initiative underscores the government’s unwavering commitment to fostering a resilient business environment.
As local enterprises navigate the complexities of recovery, the ongoing assistance aims to provide a foundation for renewed growth and stability.