BUSINESSES IN PAPUA
Administration Seeks Equity (N.Z. Press Assn.—Copyright) PORT MORESBY, Nov. 21. The Papua-New Guinea Administration announced in the House of Assembly in Port Moresby to day that it might acquire substantial shareholding in all major business ventures undertaken in the territory. The acting Government Leader in the House, Mr L. W. Johnson, said the Administration had already begun negotiations for equity in four large companies operating or interested in operating in New Guinea. These were Conzlnc Riotinto of Australia (GRA), Commonwealth New Guinea Timbers, Harrisons and Crossfield and Bougainville Development Corporation. Mr Johnson told the House that special opportunities would be provided for Papuans and New Guineans to obtain shares in these companies.
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Bibliographic details
Press, Volume CVI, Issue 31224, 23 November 1966, Page 18
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115BUSINESSES IN PAPUA Press, Volume CVI, Issue 31224, 23 November 1966, Page 18
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