Minister responsible for Communication Jimmy Miringtoro said the law will allow Papua New Guineans to own shares in the media organisations in the country.
He told Parliament during Question Time last week that foreign companies have come into the country to invest in mobile phones but had ventured into television, broadcasting, print media and other Information Communication Technology (ICT) industries.
Miringtoro said Papua New Guineans are losing out in this very lucrative industry because they do not have any ownership.
“In this vaccuum, I have given directions to my department to work on cross media ownership law.
“There is a team in place now working with my department to draw up a policy that will go to cabinet.
“Once the cabinet approves, it will go to a committee for normal legislative processes to take its course which finally it will come to the floor of parliament,” he said.
He assured the people of PNG that once the law comes into effect, PNG will have some degree of ownership in this country which means that the law will allow them to certain percentages of shares either through the respective level of the Government or through normal business acquisition.