The National Government led by Pangu Pati will continue to promote its vision of downstream processing by supporting local businesses that go into downstream processing of quality local food products.
Prime Minister Hon. James Marape said this when officiating at the launch of Paradise Food’s newest biscuit product ‘Teisti Bisket’ at the company’s Gordons Office in Port Moresby today.
He said, “If there is any way the government can help promote locally-made food products to support our local economy we stand ready to offer that help.
“We urge businesses and companies like Paradise Foods Limited to advise us on how best the government can help in reducing the price of producing basic and quality food products at affordable prices our citizens can afford”.
He said the costs of ingredients like wheat used in food production have gone up and have affected production of food.
“But I am happy to be here today to witness an occasion that goes beyond the production of food – the launch of a new product, ‘Teisti Bisket’ which is important in making sure that citizens have access to affordable and quality food products.
“It’s about more than feeding our families; it’s about supporting their health and wellbeing. We want to ensure that no one in our country goes without a satisfying and nutritious meal, regardless of their circumstances.
“That is why the government is proud that a 100 percent locally-owned company, Paradise Foods Ltd, is a great example to many local businesses to boost our economy and improve lives, and go into downstream processing of food,” he said.
Prime Minister Marape also commended Paradise Foods Ltd for their commitment to quality and affordability in introducing their new product ‘Teisti Bisket’ in the market at a price of K1.
“I thank the PFL for coming up with a new product during this time which is hard for all as global inflation is high. What makes this product special is not just delicious taste but the fact that it’s priced at one kina, offering a budget friendly option that doesn’t skimp on quality or satisfaction. It’s about providing a good, wholesome snack that’s within reach for everyone,’’ said PM Marape.
Prime Minister Marape said the global inflation levels are high and the crisis in Ukraine, other parts of the Middle-East and wheat-producing countries have affected production and pushed up inflation.
“In PNG we are trying to keep our inflation levels low and below the global inflation rate. But we still have our own issues like security and others that inhabit food production.
“This morning I am here to thank a Papua New Guinean company that has come up with a product that is affordable to the ordinary Papua New Guineans.
“We have increased the non-tax paying threshold to K20,000 p/a. This means those earning less than K20,000 a year are not paying taxes anymore, which means a little bit more disposable income on the table. This is again the government’s support to the citizens and working-class people of our country.
“Going forward for Paradise Foods Ltd, let us look at how we can remove tariffs on some ingredients imported to produce those food products like Teisti Bisket
“The Government wants to stop importation and grow and produce ourselves. I call on Paradise Food Ltd to go into downstream food processing and get into other areas to supply our local markets and the Pacific Islands nations,’’ he added.
Paradise Foods is a locally owned company producing bakery foods under the ‘Paradise’ label in the country. It is owned by some of the major superannuation funds and financial institutions in the country whose members are both private and public sector workers.