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

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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. In

HOW PNG TURNED INTO A DICTATORSHIP IN 4 SHORT YEARS

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by NIUGINI OUTLOOK THE MOST SOPHISTICATED LEADERS INTENT ON GRABBING ABSOLUTE POWER IN A COUNTRY AREN'T SO STUPID AS TO TRY IT IN ONE STEP OR A SUDDEN COUPE.   That strategy is very risky and it only gives one chance to get things right More likely to succeed is a slow step by step process on multiple fronts that slowly closes off normal democratic checks and balances. Thats the whole framework of what makes a de mocracy work - the legal mechanisms that keep a leader from grabbing too much power while promoting the spread of power across different sections of government and across many individuals.   Peter O'Neill is a brilliant tactician who has virtually completed pulling the wool over the eyes of most people of PNG. The only challenge remaining is to secure the 2017 election in PNC's overwhelming favour, whether honestly or dishonestly, so that he can proclaim that he has a mandate from the people to rule with absolute power. Following that, he can

PNG HAS TWO SETS OF ECONOMY ONE FOR THE RICH REST FOR THE POOR

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by MAJOR GENERAL JERRY SINGIROK MBE (rtd) As a graduate Security Analyst I can forecast and make a critical analysis of where PNG is heading  to under the current status quo . By default , association and by choice this government and previous governments have developed two sets of economy. One that with foreign investment and investors and the other with its own people. The foreign investment seems to grow rapidly and the local businesses seems to be shrinking. The other issue is  of leadership and accountability. When matters of economic management seems to fail those in power will attempt to resurrect the economy but in haste. In which case the nation fails thus becoming a FAILED STATE because most if not all arms of government will be denied the resources and budgetary support to enforce government control . Simply there will be no longer any control.  Law and Order and the Justice system will be unable to sustain its constitutional functions . Case in point North

PNG's economy is a Greek tragedy in the making

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Race to recovery: poorer and younger people will be the losers from a sustained budget crisis. by PAUL FLANAGAN The past year has been a year of poor public policy and misfortune for Papua New Guinea. The country ended the year in crisis management with cash shortages and budget cuts more severe than those in Greece's austerity package. Businesses are suffering from a lack of foreign exchange to pay for imports and sales are falling. Newspaper stories are increasingly of government cash shortages – funding not being paid to meet urgent medical programs such as drug resistant TB, teacher entitlements being deferred, superannuation contributions not being deposited, little being done to deal with the most severe drought since 1997. The international ratings agencies of Moody's and Standard and Poor'