The PNG Chiefs have confirmed they are in no rush to pursue Melbourne Storm star Cameron Munster, with the NRL's newest franchise opting to wait until the November 1st player market before making a decision on the representative playmaker.

Chiefs General Manager of Football Michael Chammas said the club has not made a formal offer to Munster despite receiving permission from Melbourne Storm to hold discussions with the Queensland captain.

"We're not ready to commit at this point," Chammas said.

"If Cameron Munster is available on November 1, he'll certainly be one of the players we consider."

Chammas said the Chiefs are continuing to assess the market as they build their inaugural roster and want to determine the best combination for their halves before making a major signing.

Although Munster has spent most of his career at the five-eighth position, the Chiefs believe he could successfully transition into the No.7 role.

"Our coach believes Cameron could play halfback, so there's certainly merit in that," Chammas said.

"We've been open and honest with Cameron about where we stand."

The club has already secured Parramatta star Zac Lomax as one of its foundation signings but remains patient as it weighs up its options ahead of November's player market.

Munster has since confirmed he has postponed a planned visit to Papua New Guinea, choosing instead to focus on Melbourne's finals campaign before making any decision about his future.

The Chiefs are expected to continue monitoring the market over the coming months, with Munster remaining one of several high-profile players under consideration for the club's inaugural squad.