Where is the LNG Money?
The LNG promised a massive boost to the GDP with claims from the Government that it would double GDP but since its first shipment of Gas there has been not sight of the revenues from this project so far this were the findings from the Think Tank of the Government, The National Research Institute during a media conference held today.
The total mining and petroleum revenue is forecast to be K400Million in 2015 with the Question remaining, WHERE HAS THE LNG REVENUE GONE?
Dr Charles Yala Director of the Institute said the Treasury’s failure to be clear and transparent about the underlying fiscal deficit and the LNG revenues is impacting on the business and investment environment of PNG.
It was because foreign media comparing the PNG economy to that of the Greek’s economic situation a couple of weeks back that the Director made this remarks that if the Government continued to conceal data from the institute than it was likely that we would see a similar situation from Greece’s, with so much emphasis or focus placed on the LNG other sectors such as Agriculture, Fisheries and Tourism had see a fall in recent years which wasn’t good for the economy of PNG. PNGFM
The total mining and petroleum revenue is forecast to be K400Million in 2015 with the Question remaining, WHERE HAS THE LNG REVENUE GONE?
Dr Charles Yala Director of the Institute said the Treasury’s failure to be clear and transparent about the underlying fiscal deficit and the LNG revenues is impacting on the business and investment environment of PNG.
It was because foreign media comparing the PNG economy to that of the Greek’s economic situation a couple of weeks back that the Director made this remarks that if the Government continued to conceal data from the institute than it was likely that we would see a similar situation from Greece’s, with so much emphasis or focus placed on the LNG other sectors such as Agriculture, Fisheries and Tourism had see a fall in recent years which wasn’t good for the economy of PNG. PNGFM
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