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Port Moresby
April 18, 2021
News

Basil Questions LNG & Kina Strength

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Another question on the strength of the Kina, this time from Deputy Opposition Leader, and Bulolo MP, Sam Basil.

He quizzed the government on the anticipated revenue from the LNG project, if the value of the kina would become stronger come first export.

 

Despite all the talk of the growth in the economy, the strength of the kina does not match up. The deputy opposition leader got straight to the point, asking how much the country would be getting from the first proceeds of the LNG project and, whether the value of the kina would become stronger.

 

Treasurer, Patrick Pruaitch announced to the house that Exxon Mobil will officially launch it’s first shipment tomorrow. He couldn’t give exact details to Mr Basil’s question on the appreciation of the kina. He made this comment.

 

Member for Chuave, Wera Mori also made the same comments on the depreciation of the kina. The MPs made the statements after the public in their localities, questioned why the purchasing power of the kina, was weak.

https://youtube.com/watch?v=Dsy3_zLPS2o%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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