PNGBLOGS

by MICHAEL JOSEPH PASSINGAN No believes what comes out of Prime Minister Peter O’Neill’s mouth any more. New research has discovered that everything he said on the National Public Debt crisis of Papua New Guinea are all lies. It can be easily demonstrated that the national debt is much higher than the false numbers given by PM O’Neill. That brings bad news for the struggling people of Papua New Guinea, like Public Servants who are not being paid because the nation is bankrupt. Spending on essential services such as health, education, law and order, and transport will have to be cut even more. Mr O’Neill and his conmen are still getting fat on all the money they have stolen and sent to Australia, but the quality of life for the all other citizens is falling faster and faster. HERE IS WHAT IS REALLY HAPPENING For 2015 the annual repayment of official debt of K17.8 billion was K1.5 billion, it says in the O’Neill regime’s own Budget papers. Grade 10 arithmetic tel

NATIONAL RESEARCH INSTITUTE An advertisement by NASFUND’s Board of Directors on 8th June on the issuance of Sovereign Community Infrastructure Treasury Bills (SCITB) relating to projects in Kokopo District, has raised more questions than answers. The National Research Institute which is mandated to carry out research, analyze policy issues and propose ideas affecting the development of PNG, maintains that the issuance of the ‘Kokopo Community Infrastructure Treasury Bill’ and the arrangements for the expenditure of these funds is illegal. This article serves to inform and create debate and discussion among the wider public for a better understanding of the implications of the SCITB. It also calls on responsible authorities to clarify and take appropriate action. Legality of Borrowing The National Parliament is the approving authority for any forms of borrowing and loans negotiated and taken out by the Executive Government. The Executive Government draws up a mo