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PNG IS NOW LOOKING MORE LIKE A FAILED STATE - TREASURY MINISTER PATRICK PRUAITCH

Speaking to the Sunday Chronicles, Treasurer Patrick Pruaitch made the following statements.

1. PNG will have budget deficits for next 5 years;
2. PNG govt borrowed up to K21.6 billion excessive borrowing;
3. Formal sector jobs have fallen since 2014;
4. K3 billion govt borrowing to buy Oil Search shares hidden in Kumul Holdings books;
5. Govt owned entities such as PNG Power, PNG Ports, Telikom, Air Niugini, NAC, Eda Ranu, etc owed millions by govt and struggling to exist even to pay their employees' salaries;
6. PNG Embassies in overseas whose staff are not paid their salaries for 10 months. As a result their children kicked out of schools and offices closed for non payment of rentals;
7. PNG LNG Landowners after 3 years of Spirit of Hela making shipment gas to Asian markets not even a toea is paid as a royalty to landowners;
8. Spending in extravagant projects built at highly inflated costs;
9. Employers reducing their staff level because foreign exchange crises;
10. Inability of Central Bank to raise sovereign bond;
11. Finally, PNG was described as failed state.
PNG; this is PNC Party under Prime Minister Peter O'Neil has done to our country.
The only conclusion we can draw is that bring back our country our future by VOTING OUT PNC AND NATIONAL ALLIANCE  PARTY CANDIDATES AND COALITION PARTIES