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May 27, 2022
Featured News Your Vote 2017

PNG National Party Convention Highlights Country’s Economy

Today, at the PNG National Party convention, parliamentary leader and Sinesine-Yongomugl MP, Kerenga Kua said the Government must clearly state where the country is financially.

“It needs to come out in more detail; what is our full extent of our debts? ” says Kua.

Just last week, Treasurer Patrick Pruaitch said the economy is in a bad state and blamed the PNC leadership.

Kua said when he was Attorney General he spoke out about the prudent management of the economy, but he got sacked.

“Some of the main decisions, are being made outside the cabinent,” Kua told EMTV News.

Being risk-averse, it is looking at diversifying the Papua New Guinean economy. This is an area, former IRC Commissioner General, Sir Nagora Bogan advocates about. He will be contesting for the Lae Open seat.

“We are putting all our hopes into LNG, Gold, Copper, Oil; these are the resources that we need to leverage on that, to grow the sustainable sector,” says Sir Bogan.

Despite the furore created by the Treasurer’s revelations on the lack of sound management, yesterday at the National Research Institute, Prime Minister Peter O’Neill still maintained that the economy is doing well.

He also stated that the multi-million and billion Kina loans that are taken out are for service delivery.

“As the economy continues to grow, as the population continues to grow, we must continue to deliver services to our people; how do you do that if you don’t have the funding mechanisms available to make sure these services are rolled out?” said O’Neill.

However as polling dates become imminent, several political parties are calling on the government to release detailed information about the country’s debt levels and finances.

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