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By Staff Reporter : PNG Today

Polye calls on Lupari to resign

The National Government’s economic advisers chief among them, Chief Secretary to the government, Isaac Lupari must be blamed for leading the country into financial woes and uncertainty.
As a result,Opposition Leader, Don Pomb Polye who is frustrated with the way in which government continues to bury the country by obtaining loans after loans, has called on Lupari to resign.
“Isaac Lupari is professionally and morally unfit to be the government’s chief secretary,” said Mr Polye.
“Twelve months ago, I called for a supplementary budget to be introduced by the government to factor in the down-turn in the world oil prices but my call was politicized. Lupari brushed that aside saying that the LNG price was based on forward fixed contract agreement and that our revenue will not be affected. He said PNG was on a sound economic footing and there was no need for a supplementary budget.
“But now, 12 months after, what Lupari said turned out be an absolute false and that the country’s economy is facing signs of recession. Time is the better judge and Papua New Guineans can see that country is facing financial problems,” said Mr Polye.
The Opposition Leader is frustrated that none of the so called good thinking ministers and members in the current government can not open their eyes to see that PNG is further sinking by the day.
He highlighted that PNG has a depressing foreign reserves forcing inflationary effects on the people while the government continues to go in search of loans, thus further sinking the country with accumulated debts.
Polye said as a result of the borrowings, the country’s debt to GDP stands at 60% which is way beyond the accepted level as per the law.
He said other signs of economy in serious trouble includes Treasury finding it difficult to raise treasury bills and inscribe stocks.
Mr Polye said there a huge backlog of foreign orders totaling over K800 million which is affecting business operations in the country.
He said by now, Prime Minister Peter O’Neill must own up that his government has mismanaged the economy, squandered the country’s resources and personalized both police and defence forces, thus dividing the people.
He called on Peter O’Neill to step aside and allow thinking Papua New Guineans to save the country.

Posted by Staff Reporter : PNG Today on 2:28 PM. Filed under , , . You can follow any responses to this entry through the RSS 2.0. Share this Article


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