Polye : Dishonored Government Cheques, a sign of Economy taking a Nose-dive

PORT MORESBY: The decision by the government to dishonor government cheques drawn and in the possession of service providers tells a true story of the country’s economic position, says the Opposition.

Leader Don Pomb Polye said country’s economy was taking a nose-dive and that Prime Minister and his key economic ministers are not telling the truth about the state of the economy. 

Mr Polye said the non-funding of K40 million sponsorship package for 7400 TESAS students, cuts in District Services Improvement Programs and Provincial Services Improvement Programs funds, cuts in funds for free-health care and Tuition Fee Free, K40 million kina for tuberculosis as budgeted for are ‘signs and symptoms of a sick economy.’ 

He has urged the Prime Minister and his Finance Minister to admit the economic problem as Papua New Guineans already know about it. 

Polye said O’Neill and Marape’s continuous denial about it only insulted ‘our intelligence and knowledge.’ 

“The seven million plus people of this country must know that government is having a cash flow problem because of the bad decision Prime Minister, Peter O’Neill made in obtaining the K3 billion UBS loan.” 

“All revenues from the country’s LNG export which should have bailed this country out of its financial woes are being diverted to pay off this loan,” said Mr Polye. 

Mr Polye also urged Finance Minister, James Marape to tell the truth about PNG’s financial position. 

“The minister only issued instructions for the cheques not be entertained but he failed to mention the reasons why these cheques are not going to be honored,” said the Opposition Leader. 

The Opposition Leader says his predictions about the country’s financial woes due to the bad decision by the government are coming to fruition. 

“I warned the government and no-one took heed of my warnings and look at what the country is going through,” a frustrated Mr Polye said.

Press Release