PRIME MINISTER CAUTIONS

A word of caution was stressed by the Prime Minister, Peter O'Neill over the management of revenue inflows, the country will be receiving from the L-N-G.

Papua New Guinea will be become an exporter of the L-N-G to the world and Peter O'Neill says it will bring equal challenges.

Speaking at the annual Leader's Summit yesterday, the prime minister says we must manage the substantial revenue inflows the national government, landowners and provincial government will receive directly and indirectly wisely and well.

Mr. O'Neil says as the government continues to pursue other gas development projects, its also ensuring value add through down stream processing, as well as helping to ensure reliable and affordable electricity and gas to homes, businesses and industries are sufficient and effective.

He said the beginning of LNG production and export will lift the GDP to among the highest levels in the world.

"But if we are to sustain the benefits over the medium to long term we must secure the development of more gas sector projects, and encourage new mining investment in what is a difficult international investment climate for our key resources," Mr. O'Neil said.

He saidwe must also lok at other ways to grow the economy and increase participation of people in that growth.

Mr. O'Neil says that's why policies to significantly boost involvement in small to medium sized enterprises are absolutely essential.