Rush for resources

ALJazeera

Papua New Guinea is cashing in on its wealth of natural resources. Last December, Sir Michael Somare, the country's prime minister, signed a $16bn deal to pipe liquid natural gas to Asia, promising to double the nation's GDP. But despite these economic windfalls, wealth and life expectancy are on the decline.
Frustrated locals are up in arms, saying they no longer trust the government or developers to deliver on promises. On this edition of 101 East we ask, how much of Papua New Guinea's wealth of natural resources is reaching its people?

Comments

  1. AnonymousSeptember 10, 2010 at 12:36 PM

    This piece of news is very true, the project is still in its infancy and already problems are starting. Our leaders (please God guide them) must address all issues and everything relevant to this project so everyone benefits from it. We do not want another civil crisis. I also hope that this project will help inflate the value of our poor Kina so goods and services will be affordable by all.

    ReplyDelete
  2. Hela IginiSeptember 10, 2010 at 1:36 PM

    The Kina is so low, I sent $100 Aussie dollars to my brother last week in Port Moresby and he picked up K227.00, so which one is stronger Kina or Dollar, The problem is money coming into PNG has a way of going out, there is s leak somewhere, all the billions of dollars being invested will not save us from the carnage and hell waiting to happen. People now know feel and talk money, the Government trying to sweet talk its people wont save anyone.

    ReplyDelete

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