ICCC reaches solution on possible fuel diversion to resolve fuel crisis in PNG
The Independent Consumer and Competition Commission [ICCC] today announced they have source a short-term fuel supplier to meet the current shortfall the country is currently faced with.
ICCC Commissioner Paulus Ain in a media conference today while not naming the fuel supplier said the discussions with them was difficult as big shipments of fuel meant for other economies will be divert to PNG.
“We had to negotiate with the suppliers and the numbers [price] but yes, it’s not cheap, it's not that easy to bring in potential suppliers but we finally agreed, and they are now willing to bring in the ship to relieve.
“We would like to inform our stakeholders and consumers that it would be a premium price unlike the usual prices that ICCC monitors. This one is the new arrangement so that will cost us, but we are yet to confirm the actual prices", Mr Ain said.
Executive Manager Price and Productivity Jack Timi further added that new prices will come out on 8th March.
“When the shipment from other countries diverts into our country, it’s an additional cost that Papua New Guineans will need to recover. Basically, at the moment we are having discussion on what the prices will be like.
“By the end of next month we should be familiar what the prices will be like. I think this is important to make sure we don’t have shortage in the country,” Timi said.
Meanwhile Mr. Ain also expressed that ICCC as the regulator is disappointed with Puma and urged the government to seriously look into the contract they have with Puma.
“On record as a regulator we are very disappointed. It is our view that government should terminate the contract it has with Puma.
“We’ve been very quiet to get some practical results and today we announce to our consumers that the relief is coming but it is now the onus of the government now to terminate the contract it has with Puma Energy. I think enough is enough,” Ain added.