Anthony Smare

Superannuation tax needs to be scrapped: NSL

Smare said having super untaxed can benefit the country greatly, that is why a taskforce has been put together to push for the change.

“That’s something we really want to see. Your balances could be significantly higher if you did not have to give that away in tax. 

“And from the Government perspective, it’s good for the super fund to get money that comes in without being taxed because what do we do with the money? We don’t waste it; we invest it in things that build the country.

“There’s a superannuation task force being put together.

More female CEOs needed

To commemorate International Women's Day, Smare said more women CEOs will translate into better performances in companies.

Smare revealed the NSL Board currently has three female directors.

He said the appointment of more women to boards will see further governance and transparency in the performance of organizations.

Smare resigns from CPL Board

The CPL Board Chairman made the announcement in a letter to the Port Moresby Stock Exchange.

Joining the CPL Board in 2009, Smare’s resignation is effective as of December 18th 2017.

On behalf of the CPL Board Patel, thanked Smare for his contribution to the success of the business.

Patel said the CPL Board will appoint an independent director to replace the vacancy created by Smare.

Inter-generational scheme for your children

NSL Board Chairman, Anthony Smare, announced the potential service which they hope to roll out in the future.

Smare said this during the announcement of Paul Sayer as NSL Chief Executive Officer.

“Instead of you just contributing for yourself and taking your money and go, some of that money is actually giving your children a start and some of their money is given to your grandchildren.

​40 entrepreneurs begin journey

The participants were chosen from more than 300 applicants after a callout throughout the country, as well as the Pacific, for participants.

These included five entrepreneurs from the Pacific Islands joining 35 Papua New Guineans, who will undergo two weeks of intense training and mentoring in the boot camp.

“This boot camp will be a transformational boot camp as it will help them change the way they look at all the problems in the society and will help them develop solutions in a way that is efficient,” said Anthony Smare, chairman of Kumul Foundation.

9pc interest to be paid to NSL accounts

The announcement was made today by NSL Board Chairman, Anthony Smare, in front of members, NSL staff and the media.

Smare said despite the challenging economic conditions of 2016, NSL was able to generate a 44 percent increase in profit from K280 million in 2015 to K404 million last year.

"The 9 percent crediting rate will be applied to members’ balances over this coming weekend," he said.