Header Ads

Papua New Guineans affected by Marape Government's Decisions : O'Neill

Papua New Guinea  is struggling because of the government’s failure to manage the economy under the Covid-19 pandemic, says Ialibu-Pangia MP Peter O’Neill.

He said this was putting pressure on businesses who were putting a lot of people out of job.

Mr O’Neill said when the economy was slowing down the government should tighten its belt and cut down on cost but instead they are increasing cost and spending more.

“In the 2021 Budget, the government says its expenditure will be K19.1 or K20 billion, now the Mid Year Economic Fiscal Outlook (MYEFO), states that will go above and beyond K20 billion,” he said.

“But the revenue is still the same and no new revenue is coming into the country. A lot of businesses are feeling the pinch and our people are feeling the pain.

“Our wantok system is very strong but how much pain do we have to go through to look after our families, wantoks and community.

“There is no pool of money where we can look after everyone.

“I feel sorry for those who are asking for money every now and then.”

Mr O’Neill said the government has also changed laws for people to withdraw their savings for pension and retirement in Nasfund and Nambawan Super.

“The government must protect jobs. Don’t say go and remove your savings. When he retires who will look after him?

“Government will not look after you.”

“Pressure is on the people and businesses. When businesses collapse the entire community collapses and the entire wantok and dependency system will collapse.”

“In the 2021 Budget, they said our economy will grow by 3.5 per cent, now they say it will go down by 2 per cent, a decline of close to 5-6 per cent.

“That has been going on since when the economy started slowing down.”

Mr O’Neill said the government has borrowed billions of kina in the name of Covid but that money was not used on Covid.

“Where did they spend the Covid money, they cannot explain to us,” Mr O’Neill asked.

He said the MYEFO statement the Treasurer made said the K18 billion we borrowed will be spent on Capital Investment in the country.

“You said capital investments. Which roads and bridges, hospitals, airports and wharf did you build because we did not see any new projects in the last 2 and half years?” he said.

Mr O’Neill said this Government is only completing projects started under the previous government.

“These are commitments and funding arrangements with partners like ADB and, EXIM bank which we set up,” he said.

He said inflation will continue to rise meaning price of store goods will rise and no end in sight with no foreign currency coming in to pay for bills and at the same time kina value continues to decline.

“It will continue to dive because no one has the confidence in our ability to manage our economy,” Mr O’Neill said.

“We are feeling the pain.

“I have been MP for 20 years now and I have never experience this kind of pain before.

“We have haus-krai every day and call for help every day.”

Next : Former PNG PM O'Neill calls on Marape Government to fund hospitals, boost health system

No comments

Thank you for visiting this web page. We would like to hear from you, feel free to comment below.

Powered by Blogger.