The following State-Owned Entities are declared for purposes of the ICCC Act to be regulated by the ICCC; PNG Ports Corporation Limited , Post PNG Limited , and Motor Vehicle Insurance Limited . PNG Power Limited was also regulated until June 2021 when our roles and responsibilities in the electricity industry were transferred to the National Energy Authority (NEA) through a National Executive Council’s decision (NEC Decision No: 256/2021). The ICCC also regulates the industries in which they operate. The regulated industries are declared under the respective industry Acts for purposes of the ICCC Act. The industry laws include the Harbours Act (Chapter No. 240), Postal Services Act 1996, and Motor Vehicles (Third Party Insurance) Act (Chapter No. 295). For the Essential Port Services Industry, the ICCC regulates PNG Ports Corporation Limited and provides oversight on tariffs and service standards for the provision of wharfage, berthage, and berth reservation services. In Compulsory Third Party Motor Vehicle Insurance Industry, the ICCC regulates Motor Vehicle Insurance Limited premiums and service standards for the provision of motor vehicle third-party insurance coverage. The ICCC also regulates tariffs for Post PNG Limited for the provision of postage stamps for letters weighing up to 50 grams, private letter boxes, and bags. ICCC Roles and Function in Regulated Industries The ICCC’s roles and functions are primary to ensure efficient regulation of declared entities, industries and natural monopolies and by doing so ensure that: The bona fide interests of consumers of regulated services with regard to price, quality and reliability of goods and services are promoted and protected Consumers benefit from competition and efficiency of regulated market performance; Regulated entities do not misuse of market dominance or power; Efficient operation and investment in regulated industries is encouraged and promoted; Legitimate business interests of the regulated entity are promoted; Efficient costs of supplying regulated goods and services are promoted; and Return on assets required to sustain past and future investments in the industries for supplying regulated goods/services are promoted. Subject to Government’s request or by its own violation, the ICCC undertakes reviews into industries in highly concerntrated markets with a view to provide the Government with practical recommendations for evidence-based policy options. Regulated Contracts A regulatory contract is a legal document binding between the ICCC and the regulated entity for a period of five (5) years. Upon expiry of each regulatory contract, a new regulatory contract is set for another five (5) years. Currently, the Regulated Industries Division administers three (3) regulatory contracts and they are; Postal Services Regulatory Contract Compulsory Third-Party Motor Vehicle Insurance Contract PNG Ports Regulatory Contract A regulatory contract sets out the tariffs and the minimum service standards amongst others to be provided by the regulated entity and the penalties for non-compliance by the regulated entities consistent with the ICCC Act 2002. The ICCC’s Regulated Industries Division sets the annual tariffs for the regulated entities for the declared services provided by these entities. The regulated entities submit their proposed annual tariffs to the ICCC pursuant to each regulatory contract for assessment and approval. The ICCC’s Regulated Industries Division, after its assessment of the proposed tariffs for each regulated entity, only approves the tariffs for the subsequent regulatory year once all conditions and requirements are met consistent with each regulatory contract. The tariffs set for the regulated services are;

50-gram letters and rental for private letter boxes and bags for Post PNG Limited; Essential Port Services – Wharfage, Berthage, and Berth Reservation for PNG Ports Cooperation Limited; and Compulsory Third-Party Premiums for Motor Vehicles Insurance Limited. National Gazette for PNG Ports' 2024 Maximum Allowable Tariffs National Gazette | 27th of October 2023 Minimum Service Standards Each regulatory contract provides a minimum service standards requirement that requires the level of services and standards to be met by the regulated entity through the provision of the regulated services. A clause under each regulatory contract states the minimum service standards of the regulated entity and also outlined under specific schedules which provides the full details of the requirements. The regulated entities submit reports of the minimum service standards to the regulator (ICCC) biannually purposely for the regulator to assess and ensure that the requirements are met. If the regulated entity fails to submit the reports, it is considered as non-compliance and penalties are therefore imposed as stated in each of the regulatory contracts. Special Projects and Inquiries Motor Vehicle Dealership & Distributor Inquiry Industry: Motor Vehicle Type: Inquiry Status: In Progress Related Documents Public Notice - Inquiry into Motor Vehicle Dealership & Distributors Retailing Price in PNG Public Notice - Release of the Issues Paper Draft Report - An inquiry into motor vehicle retail prices Coastal Shipping Industry Inquiry Industry: Maritime Sector Type: Inquiry Status: In Progress Related Documents Public Notice - Recommencement of the Coastal Shipping Industry Inquiry Discussion Paper - Inquiry into the Coastal Shipping Industry in PNG Public Notice - Release of the Inception Report Inception Report - Coastal Shipping Industry Inquiry Amendment of Harbours Act Industry: Essential Ports Type: Review Status: Pending NEC's endorsement Related Documents