PRIME Minister James Marape has reassured Papua New Guineans that Government has acted decisively to stabilize fuel supplies and shield citizens from rising Global Fuel Prices caused by international conflict and instability in Global Energy Markets.
Addressing media yesterday at Melanesian Haus prior to his departure for France, Prime Minister Marape apologized for the fuel supply disruptions experienced over the weekend while confirming that government funding support for importers was now being processed.
“I do apologize for what happened on Saturday, but government has now worked with importers and the funding support is being made available,” Prime Minister Marape said.
The Prime Minister emphasized that PNG currently enjoys among the lowest fuel prices globally because of deliberate government intervention to absorb rising international fuel costs.
“You would realize that Papua New Guinea right now has amongst the lowest fuel prices on planet earth,” he stated.
“We are deliberately protecting our people from imported Inflation and external economic shocks.”
Prime Minister Marape explained that the Marape-Rosso Government had introduced major subsidy measures to keep fuel prices stable despite soaring Global Oil Prices linked to tensions in the Middle East.
“The world has doubled up on fuel prices globally, but the government is carrying the burden so our ordinary people and businesses are protected,” he said.
The prime pinister confirmed that government’s support measures would continue through June and would be reviewed later in the year depending on Global Fuel Prices and economic conditions.
“We are willing to sacrifice elsewhere in the national budget to help our people manage the cost of living,” he stated.
Mr. Marape also highlighted other relief measures implemented by government, including tax exemptions for low-income earners, GST removal from essential household goods, and stamp duty exemptions for first-home buyers.
“This government is deliberately giving back to the people to help them survive both domestic and global inflationary pressures,” he said.
The prime minister thanked fuel suppliers Puma Energy and ExxonMobil for maintaining supply lines and cooperating closely with government during the current challenges.
“I thank our importers for assuring us that supply chains remain intact,” he stated.
Mr. Marape further announced that government was preparing Supplementary Budget arrangements to continue supporting fuel stabilization efforts while utilizing increased revenues from higher commodity prices.
“We expect additional revenue from Kumul Petroleum Holdings Ltd, Ok Tedi Mining, New Porgera Ltd, and other Sectors, and we will use those gains to support our people,” he said.
The Prime Minister also commended Papua New Guineans for remaining calm and orderly during the recent disruptions.
“I thank the residents of Port Moresby and the rest of the country for your patience and discipline,” Prime Minister Marape said.
“Despite the stress, our people maintained order and demonstrated maturity and goodwill.”
He assured the nation that the government remained fully committed to managing economic pressures responsibly while protecting citizens from hardship. “These are global challenges beyond our control, but your government is alert, experienced, and prepared to respond,” he said.