The Government of Papua New Guinea has continued to support businesses affected by the January 2024 riots, with the announcement of a second phase of financial assistance. The riots, which took place on January 10, resulted in widespread damage across major urban centres, particularly in Port Moresby, where shops were looted, torched, and destroyed. The government’s ongoing financial support aims to help these businesses recover from the losses, stabilize their operations, and restore economic confidence in the affected regions.
In the immediate aftermath of the riots, the government committed to providing a relief package to impacted businesses, recognising the importance of private sector recovery in the country’s overall economic growth. The CPL Group, one of the largest retail and pharmacy chains in the country, received K16.1 million as part of this recovery package. This funding has been crucial for the company to rebuild and reopen damaged outlets, such as the Stop & Shop Rainbow supermarket, which recently resumed operations.
This second phase of support underlines the government’s recognition of the vital role businesses play in Papua New Guinea’s economy. By assisting private enterprises, the government not only aids in direct economic recovery but also ensures the stability of jobs and services that these businesses provide to the public. The CPL Group, for instance, is a key player in the retail and pharmaceutical sectors, providing essential goods and services to PNG’s urban population. The reopening of their stores is a positive signal to other businesses, both local and foreign, that the country is focused on recovery and resilience.
Meanwhile, Brian Bell Group Chairman Ian Clough was quoted in The National as saying, “As yet, the Brian Bell Group has not received any support from the government relief programme for affected businesses. However, given we are a 100 per cent PNG-owned business that contributes meaningfully to our country and its people, we are optimistic that support will be provided to our business soon. This support will help us to rebuild and recover more quickly.”
