Featured Finance News

Issue of PNG’s Foreign Exchange Levels Raised in Parliament

By Meriba Tulo – EMTV News, Port Moresby

The issue of the country’s Foreign Exchange levels was again raised in Parliament yesterday (July 17).

Member for Moresby North-West, Sir Mekere Morauta, in a series of questions to the Treasurer, asked about the Government’s plans to ease the burden of access to foreign currency, which he said continued to be a concern for many businesses, as well as individuals in the country.

During question time in Parliament this afternoon, Moresby North-West MP, Sir Mekere Morauta asked a series of questions in relation to the lack of Foreign Exchange.

His questions following a survey undertaken by Business Advantage PNG which highlighted concerns by businesses on the lack of access to Foreign Exchange as the main hindrance to business in the country. In response, treasurer Charles Abel acknowledged that there continue to be issues surrounding access to Foreign Exchange, which he said the government was working to address.

The treasurer added that whilst there are continued challenges, reforms undertaken by the government would take time to correct the current situation.

The progress of some of these reforms, according to the Treasurer, would be included in the country’s Mid-Year Fiscal Year Outlook, which he said would be presented to Parliament in this Session.

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