BY EDDIE OSIFELO

THE upcoming Pacific Games, scheduled to take place in Honiara from November 19th to December 2nd, 2023, has ignited a wave of interest among newly registered companies eager to secure contracts.

Dr. Jimmy Rodgers, Chairman of the National Hosting Authority (NHA), confirmed this trend during a media briefing on Thursday.

Dr. Rodgers emphasized that the Pacific Games present a unique opportunity and a recurring one for businesses to participate in various aspects of the event.

He revealed that a multitude of new companies have emerged, actively seeking contracts associated with the Pacific Games.

“In preparation for the Pacific Games, we have witnessed a significant influx of companies vying for contracts. It’s not just in this instance but every single instance,” Dr. Rodgers stated.

“For example, when we sought private security services, nearly 50 private security firms applied.”

He continued, “However, upon further investigation, we found that the actual number of registered private security firms in the country did not match this surge in applications. Nevertheless, these companies registered, indicating their interest in bidding for contracts.”

Dr. Rodgers acknowledged the entrepreneurial spirit of the local population, highlighting that it was not unexpected for people to seize opportunities presented by an event of this magnitude.

He stressed that the NHA’s role is to ensure that the companies applying for contracts meet the requisite bidding criteria.

“One of the primary requirements for companies to enter the bidding process is registration with the Company Haus,” Dr. Rodgers explained.

As preparations for the 2023 Pacific Games continue, it is clear that the event has sparked a surge in business interest, with both established and newly registered companies vying to contribute to the successful hosting of this regional sporting extravaganza.

BY EDDIE OSIFELO

PARLIAMENT is poised to amend the Central Bank of Solomon Islands (CBSI) Act of 2012 after a decade of its implementation.

Minister of Finance and Treasury, Harry Kuma, announced this during the second reading of the CBSI (Amendment) Bill 2023 in Parliament on Monday.

Kuma highlighted that since the enactment of the CBSI Act in 2012, the global financial and economic landscape has undergone significant changes, reshaping the way business is conducted.

CBSI stands as one of the esteemed institutions in the Solomon Islands, with a vision to lead the development of a modern, stable, and prosperous nation.

The proposed amendment comes in response to the evolving financial environment, with the aim of keeping the CBSI relevant and adaptable to future financial innovations.

Additionally, it seeks to address market failures and bolster the CBSI’s capacity to effectively manage the domestic economy while achieving its objectives.

Moreover, Kuma emphasized that this amendment aligns with the government’s policy to strengthen the financial sector’s legislation and create a conducive environment for growth.

This review opens the door to reevaluate other financial legislations, including the Financial Institution Act and Insurance Act.

The amendment to the CBSI Act is expected to provide the bank with the opportunity to modernize specific sections of the Act in conjunction with other legislations such as the Financial Institution Act and National Payment System Act.

Kuma outlined two key motivations behind the amendment:

Keeping pace with the rapid technical innovation in the financial sector, which has outpaced existing legislation.

Addressing gaps exposed by the recent COVID-19 pandemic and associated financial and economic crises in major markets.

He noted that the swift advancement of technology, particularly in Financial Technology (Fintech), necessitates these changes.

The amendment, once passed in Parliament, will represent a significant step forward in ensuring that CBSI remains aligned with modern central banking practices.

BY EDDIE OSIFELO

THE Electricity (Amendment) Bill 2023 is poised for a significant debate this week following the second reading presented by the Minister of Mines, Energy, and Rural Electrification, Bradley Tovosia, in Parliament on Monday.

Minister Tovosia highlighted that the primary objective of the Bill is to amend the Electricity Act (Cap 128) with the aim of enhancing and modernizing the country’s electricity sector, enabling the Solomon Islands to fully capitalize on positive developments within the industry.

“The current Principal Act has become outdated, with some of its provisions no longer serving the best interests of the public in the contemporary context,” Minister Tovosia explained.

One of the key issues addressed by the Bill is the high cost of electricity in the Solomon Islands, which has persisted for the past decade.

The government is determined to implement changes to address this issue.

Minister Tovosia noted that the country’s slow transition to renewable energy is partly attributed to the antiquated Electricity Act (Cap 128), which designates the Solomon Islands Electricity Authority (SIEA) as a vertically integrated utility with exclusive rights to supply electricity nationwide and self-regulate its operations and tariff charges.

Despite the SIEA’s financial strength and professional management, challenges remain, particularly concerning tariff affordability, transparency, the implementation of investment programs, and creating a favorable environment for independent power producers and small-scale self-generators.

The amendment of the Act is a result of studies conducted to enhance the electricity sector in alignment with key objectives outlined in the National Energy Policy.

These objectives include expanding electricity coverage, reducing electricity costs, decreasing reliance on imported fossil fuels (which increase electricity costs and harm the environment), reducing technical and non-technical losses, and boosting private sector involvement.

Additionally, Minister Tovosia emphasized that the Bill lays the groundwork for broader energy sector reforms, encouraging private sector investments in renewable energy.

It also paves the way for the integration of rooftop solar power into the grid, thereby increasing the share of renewable energy sources and decreasing reliance on imported diesel fuel for electricity generation.

Looking ahead, the proposed reforms include the unbundling of the corporate structure of Solomon Power, with the company transitioning to solely operate as a profitable grid entity in Honiara.

This transition would delegate the electricity generation component to independent power producers while focusing on extending electricity access to rural areas through the creation of a rural electrification company.

Parliament resumed its session at 9:30 AM today.

Wale calls on PM Sogavare to summon NHA over serious fraud claims

LEADER of Opposition Hon Matthew Wale has called on the Prime Minister Sogavare to summon the National Hosting Authority following serious claims of fraud in the award of PG 2023 contracts.

Hon Wale said the Prime Minister as minister responsible for PG 2023 must intervene and summon those in the NHA.

The Opposition Leader said his office has received complaints of very serious claims of corruption in the awarding of contracts to local suppliers and contractors.

“My office have been informed that certain individuals within the NHA are giving out very dubious contracts to their friends and cronies. The value of contracts is mind-blowing. People within the NHA are milking PG 2023 funds for personal gain and the Prime Minister as minister responsible must step in,” he said.

Hon Wale said serious questions also need to be asked on the value and quantity of the Chengs building purchased for the PG 2023.

The Opposition Leader adds the figures in regards to the value of contracts given to some local contractors and suppliers are very shocking.

“People are becoming millionaires overnight for the wrong reasons,” he said.

Hon Wale said PG 2023 funds must also be audited.

The Opposition Leader also urged the treasury internal audit to expeditiously carry out investigations to protect public funds before they are exhausted through corrupt inflated excessive contracts.

The Opposition Leader said all contracts under question must be reviewed and terminated and due process must be followed.

“I am urging the Prime Minister as responsible minister to intervene and take appropriate action against those responsible,” Hon Wale said.

–OPPOSITION PRESS

BY JENNIFER KUSAPA

PACIFIC Island Forum Secretary General Henry Puna highlighted the escalating threat of cybercrimes to administrations during the Pacific Cyber Capacity Building Coordination Conference in Fiji.

Reflecting on discussions at the 78th session of the United Nations General Assembly and the Pacific Islands Summit, Puna acknowledged the opportunities presented by the digital evolution but stressed the need for specialized capacities to navigate its challenges.

Puna expressed confidence in the region’s recognition of increased support and capacity development in addressing cyber threats.

However, he said that successful partnerships must be targeted, coherent, and effective, setting the stage for the conference’s focus.

Highlighting the unfortunate reality that criminals worldwide, including in the Blue Pacific Continent, actively seek to harm innocent people, Puna asserted the collective commitment to their efforts.

Partners in the Blue Pacific, including Australia, Canada, Germany, Japan, Korea, New Zealand, the United Kingdom, and the United States, echoed this commitment in a joint statement delivered by Ewen McDonald.

McDonald, High Commissioner to the Republic of Fiji and Special Envoy for the Pacific and Regional Affairs, outlined the partners’ dedication to supporting Pacific countries in achieving the ambitions outlined in the Pacific Island Forum’s 2050 Strategy for the Blue Pacific Continent.

Recognizing unprecedented challenges such as climate change, the lingering impacts of COVID-19, and global strategic contests, McDonald stressed the importance of shared security in the current environment.

Referring to key documents like the Boe Declaration, the Pacific Islands Forum 2050 Strategy, and the Lagatoi Declaration, McDonald highlighted a collective responsibility to address challenges in the online environment.

While acknowledging the benefits of digitalization, he cautioned that increased reliance on technology also exposes us to the amplified threat of cyber-attacks in various aspects of our lives. The statement concluded with an emphasis on the need for vigilance and cooperation to ensure a peaceful and prosperous digital future for the region.

He also said the next three days will be a vital opportunity to discuss cyber capacity building, define our priorities, and propel more collective action across the region, looking forward to listening to each other and acting together on priorities to shape our region for the better.

BY JENNIFER KUSAPA

SECRETARY General Henry Puna of the Pacific Islands Forum announces a pivotal meeting scheduled for November in Rarotonga, where leaders will unveil an implementation plan for the 2050 Strategy.

Puna emphasizes the plan’s acknowledgment of ongoing regional efforts to tackle pressing challenges, particularly in the cyber domain.

Highlighting the collective commitment to achieving the leaders’ vision for a secure and prosperous region, Puna underscores the importance of new actions outlined in the implementation plan.

While expressing gratitude for existing support in addressing cyber challenges, he stresses the need for efficient utilization of resources.

Puna expresses pleasure in inaugurating the P4C, where donors and governments unite to discuss and align support initiatives—an exemplary model for future partnerships. He advocates for an approach ensuring long-term, sustainable success, emphasizing ongoing engagement with the Pacific Islands Forum.

Recognizing the Pacific Leaders’ interest in the cyber domain, Puna urges partners and implementing agencies to involve the Forum in their discussions.

He reveals that the Forum Chair, Cook Islands, is collaborating with members on high-priority regional interventions, including cybersecurity under ‘Pacific Partnerships for Prosperity.’

Puna calls for continued collaboration with key stakeholders to structure a cybersecurity partnership once Forum Leaders deliberate on the proposal. He invites stakeholders to stay connected with the Forum Secretariat for collective efforts in this crucial initiative.

Meanwhile Puna rallies for collaborative efforts to realize the Leaders’ vision under the 2050 Strategy, aiming for a secure, prosperous Blue Pacific Continent for all.