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Port Moresby
March 29, 2020
Featured News Southern

Pruaitch: PM should stop attempts to derail programs sponsored by PNGSDP

By Meriba Tulo – EMTV News, Port Moresby

Opposition Leader Patrick Pruaitch has called on the Prime Minister to stop further attempts to derail programs by the PNG Sustainable Development Program in Western Province. In a statement, the Opposition Leader has supported calls from Western Province MP’s who have acknowledged the recent High Court decision in Singapore that prevents the entity from political influence.

Pruaitch says PNGSDP is a model entity that operates like a sovereign wealth fund, and has done an excellent job in nurturing its long-term fund which now stands at over K4 billion.

Furthermore, he has highlighted the transparency in the entity’s operations, with published fully audited annual reports since its establishment in 2002. In its annual report for 2017, figures showed that PNGSDP’s long-term fund had grown by a credible 7% in 2017 to US$1.4 billion.

In agreeing with the four Western MP’s Pruaitch says instead of attacking PNGSDP, the Prime Minister should instead work with the organisation and the Provincial Government to ensure that the interest income from the Long-Term Fund is spent to achieve development and change in Western Province.

 

 

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