9 Jan 2009

Logging firms in PNG feels economic pinch

11:45 am on 9 January 2009

Logging firms around Papua New Guinea are either scaling down or halting operations due to a downturn in log exports amid the world financial crisis.

Recently, a logging firm in Western province sent workers on forced leave as demand for logs and timber from Australia, New Zealand and China drastically dropped.

The newspaper, The National, reports an umbrella company, that also represented other smaller logging companies, had also ceased most of its operations due to falling demand and sent workers home.