The West New Britain Provincial Government has released a funding of K200,000 to Motor Vehicle Insurance Limited to subsidize vehicle registration in the Province. The subsidy was presented to MVIL by West New Britain Governor, Sasindran Muthuvel.
The funding follows a Memorandum of Understanding signed last year between MVIL and WNBPG.
“This is a partnership working well and brings more opportunities”, said Governor Muthuvel.
Sasindran believes it will be a relief for PMV owners in spite of the bad road conditions and high cost of spare parts and thanked MVIL for this unique partnership.
According to MVIL, the MOU has benefited nearly two thousand PMVs’ since its inception in 2021 with owners directly enjoying no cost to their vehicle registration. A funding of K1000 will subsidize individual PMVs.
This is one sector under SME where the small people are involved.
The WNB Governor said PMV business is growing and has been doing great to serve people in terms of transport and also to move agriculture produce to market in towns and urban areas.
PMVs’ play a vital role in West New Britain’s economy and must be supported more. It’s a sector clear enough for the Provincial Government to assist under its Provincial Services Improvement Program (PSIP), said Governor Muthuvel.
The subsidy released is the second with a similar funding presented last year following the signing of the MOU. The WNB Governor says the funding is hoped to increase as the PMV sector in the province is growing.
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