Papua New Guinea Prime Minister James Marape has stripped the Commerce and Industry portfolio from Win Bakri Daki, appointing Finance Minister Thomas Opa to take over the ministry while retaining Daki in Cabinet as Minister without Portfolio.
The changes come as the Government launches an independent forensic investigation into the Small and Medium Enterprise (SME) Fund.
In a statement, Prime Minister James Marape said the interim arrangements are intended to ensure transparency, accountability and public confidence while the investigation is conducted.
He also directed Commerce and Industry Secretary David Ganaii to step aside until the investigation is completed.
The Government will appoint a reputable independent audit firm to carry out a comprehensive forensic audit of the SME Fund.
The audit will examine budget appropriations, Treasury cash releases, transfers to partner financial institutions, acquittals and all related financial transactions.
Marape said the Government’s SME policy remains unchanged and reaffirmed its commitment to supporting small and medium-sized businesses across Papua New Guinea.
He said the SME programme was designed to channel funding through recognised financial institutions, including Bank South Pacific (BSP), National Development Bank (NDB) and Mama Bank, ensuring loans are administered through established banking systems rather than direct government cash disbursements.
“Our commitment to SMEs remains unwavering. Every kina appropriated for SME development must reach its intended purpose and be used strictly in accordance with Government policy and the law,” Marape said.
He stressed that the temporary administrative changes should not be interpreted as findings of wrongdoing but are necessary to protect the integrity and independence of the investigation.
Marape reiterated the Government’s zero-tolerance stance on corruption, saying appropriate action will be taken if the audit uncovers any misuse of public funds.
