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Port Moresby
September 21, 2021
Featured News

Opposition Leader: Government’s Loan debts will be a challenge to repay

 

Opposition Leader Don, Polye has continued his claims that the K3 billion UBS loan is responsible for the country’s economic crisis.

He says, the loan created the country’s debt level of K30 billion against PNG’s aggregate wealth of K46 billion total Gross Domestic Product (GDP).

Polye highlighted this while launching a community association at Keltiga village in the Western Highlands Province, recently.

The K3 billion UBS loan borrowed was to buy 10.1 per cent of shares in Oil Search.

Polye says the K3 billion loan, will be a big challenge for the next government to address.

However, Polye says his alternate government will be focused on the agricultural industry to save the economy.

And providing services like roads, water and electricity supplies to people in the rural areas.

 

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