K8 Million relief for CPL and Eliseo amid black Wednesday recovery

The government has provided K8 million in relief assistance to the CPL and Eliseo Groups as part of Phase 3 of its support package for businesses impacted by the January 10 riots, known as Black Wednesday. CPL and Eliseo both received K4 million each.

Acting Chief Secretary to Government Ivan Pomaleu presented the funds, emphasizing that only businesses that met the strict eligibility criteria verified by the PNG Business Council and the Port Moresby Chamber of Commerce and Industry received assistance.

He said Phase 3 focuses on helping businesses rebuild their properties, restore services, and create jobs.

"We have a structured process where all claims are vetted by the business coalition before reaching the government for approval," Mr Pomaleu said.

The total funding made available to assist businesses by the Government is K270 million.

By the end of this round of payments, the government would have spent K101 million from the K270 million. Phase 3 assistance is valued around K51 million and after the handing over of the cheques today, the total value paid under Phase 3 so far would be K31 million [including the K25 million paid last week].

There are about four phases to the government assistance. Phase one is the wage support that was paid last year to cover wages for National employees, estimated at around K8.7 million. Phase 2 is payment to businesses who qualified to get government assistance to remove debris from their properties which were destroyed.

In phase 3, funding is now being made available, again to those businesses who qualify, to rebuild their business infrastructure. Then will come phase 4, this is having dialogue with the businesses and commercial banks to make available concessional loans to businesses who qualify under the government assistance scheme to have access to those loan facilities.