“PNG must learn to live within its means. PNG is seriously mishandling the explosion in its debt levels, the growth of interest payments as a share of its revenues, an annual debt rollover nearly equivalent to the entire national budget, and its lack of transparency about off-the-books debt. Debt is not bad if it is […]
“Getting PNG’s non-resource growth rate back to at least 5 per cent per annum requires more, better quality and better targeted investment in our country’s infrastructure. Recent years have seen massive real cuts in the government’s support for infrastructure of 51% between 2015 and 2018. This is a cause for PNG’s poor growth prospects from […]
“The Alternate Government welcomes more information being made available about resource revenues. The Extractive Industries Transparency Initiative (EITI) is a very positive step forward. The release of the 2015 and 2016 reports shows the professionalism of the EITI Secretariat and the committee which supports them. Treasurer Abel’s support for the initiative is welcome, following in […]
The National Government is making a shamble of the recovery effort in the aftermath of unprecedented earthquake damage in Southern Highlands, Hela and parts of Enga and Western Province, Opposition Leader Patrick Pruaitch said today. Mr Pruaitch said although he complimented Prime Minister Peter O’Neill a few days ago for his fast response to the […]
“The recent survey of PNG’s CEO’s has once again highlighted foreign exchange shortages as the most significant problem facing businesses. Indeed, it was rated by an extraordinary 71 per cent as a first order issue, up from a still very high 60 per cent last year. It is time the government actually started to do […]
Opposition Leader Patrick Pruaitch said today hosting of the APEC Summit will showcase PNG’s potential in the dynamic Asia Pacific Region, and allow other Pacific island nations to participate. “The Opposition supports an initiative that will showcase our cultural diversity and traditions, the nation’s agricultural and resource potential and our eagerness to participate in the […]
Opposition Leader Patrick Pruaitch has commended Prime Minister Peter O’Neill for the Government’s quick response to the disastrous earthquake that has severely impacted the oil and gas producing provinces of Southern Highlands and Hela. “I am glad our Defence Force personnel have been deployed to assist with recovery efforts and the Australian Government has been […]
Opposition Leader Patrick Pruaitch, said today PNG Treasurer Charles Abel has been “naive and irresponsible” in his premature release of alleged details of the 2017 Final Budget Outcome. Mr. Pruaitch said: “Key officers at the Department of Treasury have a challenging task to put together accurate data for the Final Budget Outcome, a task that […]
Government policies have contributed to a decline in PNG’s economic performance since 2013 with ongoing mismanagement continuing to have negative impacts even though commodity prices have risen, Opposition Leader Patrick Pruaitch said today. Mr. Pruaitch said that in PNG, the best indicator to growing or declining levels of prosperity is provided by employment trends. “Jobs […]
The Central Bank quarterly economic bulletin this week confirms the O’Neil Government’s Economic Recovery Plan was based on mythical figures to support outcomes that cannot be achieved, the Opposition Leader, Hon. Patrick Pruaitch, said today. BPNG’s bulletin showed total public-sector debt blew out to K23,856.7 million at the of September quarter, surpassing the projection for […]