News

Employees of the Bank South Pacific [BSP] in Papua New Guinea walked off their jobs on 26 August 2010, calling an indefinite strike to resolve a dispute concerning their housing facilities. PNG Trade Union Congress general secretary John Paska said that BSP has continually claimed the incapacity to pay. Yet they see fit to double their expatriate staff from 40 to 80 at exorbitant wages and lucrative terms and conditions.     

                                                                          

"BSP has not wasted time in announcing self praise for their exponential growth rate and huge profit margins. They have extended their presence throughout the Pacific including millions into their investment portfolio. All of these have been done on the back of enormous sacrifice of their employees. With all the money they are making why is there not any humane thought for the workers that make their money. Housing is a necessity and a human right for which there can be no compromise," Mr Paska said.



BSP management and the workers union signed a memorandum of understanding on 30 August to end the strike. A joint statement by BSP and the union said the agreement brings to rest resolution eight of the nine outstanding "parked items" arising out from the 2007 consolidated industrial agreement. BSP had offered a further 10% increase on housing allowances for all Grade 3 to Grade 8 staff as an interim measure pending the industrial arbitration tribunal process.