Douglas Tomuriesa, Pope Francis and James Marape

-
Image
  Opposition Leader Douglas Tomuriesa said he is disappointed and embarrassed over the way His Holiness Pope Francis was treated by Prime Minister James Marape over the last three-days during the Papal visit, and the lack of courtesy and respect shown by the Prime Minister. He said the Prime Minister continuously declares PNG as a ‘Christian country’ and prides himself on being a religious individual but he was surprised when the Pope was continuously snubbed by the PM over the weekend since the Pope’s arrival on Friday. “The Pope is the head of the Catholic church, the largest Christian church in the world and he is also a head of state. “PNG not only being a Christian country, but a country that prides itself as a ‘friend to all, enemy to none’, the PM should be according the Pope with the highest level of respect,” Tomuriesa said. The Opposition Leader pointed out that on Friday, the Prime Minister did not welcome the Pope at the airport, a tradition he had accorded to many othe...
Post a Comment

BSP ratifies K302mil home loans

-

 


Business

By CLARISSA MOI
THE Bank South Pacific (BSP) has approved out loans with a total value of K302 million under its First Home Ownership Scheme (Fhos) loan facility.
BSP Financial Group Ltd chief executive Robin Fleming told The National that BSP’s first home ownership loans continued to be very popular with customers.
Fleming said the bank had financially assisted more than 1,000 Papua New Guineans for their first home under the product.
“The fixed interest rate of 4 per cent and terms of up to 40 years mean that the cost of borrowing has not changed for existing and potential borrowers,” Fleming said.
“And a first home remains one of the most important financial objectives for many customers.
“The total value of loans under the facility is now K302mil and this continues to increase.
“While there is a surplus supply of investment properties, which has been accompanied by lower rentals in certain market segments, the underlying demand for home ownership has not changed.
“Customers remain interested in new homes in the K450,000 range which is the target marker for our first home ownership facility.”
The BSP first home loan scheme is a joint initiative with the Government which began in 2014. But he said the Government’s liquidity support for the facility “did not eventuate years ago”.
“BSP decided to continue to offer this important product to customers using its own balance sheet and renamed the facility the first home ownership scheme.”
Fleming said the property investment sector had seen rental rates reduced as a result of over-supply and demand having tapered off.
“And anyone looking to enter the property investment market will need to have access to cash flow other than the investment property itself to meet loan repayments,” he said.
“And (they) will also have to be flexible on rental rates, as well as have the cash reserves to allow for longer periods of the property not being rented.”

Comments

Post a Comment

Popular posts from this blog

REMNANT AJ Group Limited donated a new vehicle to NHC

-
Image
  REMNANT AJ Group Limited, one of the contactor who was engaged by the National Housing Corporation to connect the sewage system at the NHC’s new Durand Project site donated a new vehicle to NHC on Friday, 7th June, 2024. The key of the new vehicle that costed the company close to K150, 000 was presented to the NHC’s project management division who will be using the vehicle to do inspection on the Durand project site on a daily basis. NHC Acting Managing Director Abel Tol while thanking the Company Managing Director Andy Minok, he said purchasing a vehicle by the contractor and donating it to NHC was one of the requirement written on the Contract signed. Tol said this company, Remnant AJ Group Limited was awarded a K3. 2 Million worth Project and that was to fix and connect the sewage system from the MacGregor Police Barracks all the way to the main Sewer. This contract was awarded to this named company in July last year and this is one of the few contractors who were engaged by N...
Read more

Three Bomana prisoners charged with escaping lawful custody

-
Image
  March 16, 2022 Main Stories THREE prisoners who allegedly escaped from the Bomana prison and recaptured on different dates were read their charge of escaping lawful custody at the Waigani Committal Court yesterday. Magistrate Paul Nii read the charge separately to Paul Supa, 44, of Moinomo village in Chuave, Chimbu, Kirikirigau Harisu, 45, of Karama village in Malalaua, Gulf, and Ronny Saguba, 44, of Mabudawan village in South Fly, Western, as they had appeared separately in court. Nii then upheld police prosecutor Senior Sergeant Chris Iga’s submission to adjourn the case until April 27 to allow more time for the police to file their hand up brief. Supa, Harisu and Saguba were serving their terms in Bomana. Supa was convicted for rape and jailed 18 years in 2017. Police alleged that on April 23, 2019, Supa escaped from the Port Moresby General Hospital when he was taken from Bomana to get medical treatment. He had been on the run for two years and seven months and was recaptured...
Read more

Pregnant mother killed

-
Image
  Pregnant mother killed May 14, 2021 By MIRIAM ZARRIGA A MAN who was enraged because his wife refused to follow him killed her and their unborn child in front of their relatives at home, before escaping. The incident occurred last Friday at Dodomona, Mougulu station, Nomad local level government in North Fly, Western. Police commander Chief Insp Silva Sika told  The National  that the man was arrested on May 8 and kept at a secret location to protect him, before police flew him out. He said last Friday, the whole community had gone to the local pastor’s residence to clean around the church and the home. The man kept on telling his wife to follow him but she refused. Then the house belonging to the man’s father caught fire and was completely destroyed. “The husband accused the woman of causing the fire,” Chief Insp Sika said. “However, the people told the man and his family that she had been with them cleaning the pastor’s compound.” “That evening, while she was preparing...
Read more

Court allows former MP to appeal

-
  May 4, 2021 Main Stories By KARO JESSE THE Supreme Court has allowed former Western governor Bob Danaya to appeal a Nov 2 National Court’s consent orders to approve payments of debts to be paid from non-continuing mining communities agreement (non-CMCA) trust funds. The non-CMCA and community mine continuation agreement were enacted from Ok Tedi mining agreement through a National Executive Council decision on Nov 29, 2006, to enable the State to pay compensation through Ok Tedi Mining Ltd (OTML) for dumping toxic mine waste on the land, causing irreparable and irreversible damage to traditional lands and environment of Western. Justice Collin Makail yesterday granted leave to Danaya to appeal the National Court decision which approved payment to several contractors engaged in various contracts in Western. Danaya claimed he was aggrieved by the decision and he desired to obtain leave to appeal the decision as he was a landowner from Kotale village in Balimo, Middle Fly, and a ben...
Read more