PNGBLOGS

By BELDEN NAMAH, MP Leader of Opposition Minister for Finance Hon. James Marape stated in a letter to the Opposition Leader regarding the delay in payment of DSIP funds, stating that the delay in the funding was due to cash flow and tight management of the deficit budget, and that, he was acting within the powers conferred to under Section 3 of the Public Finance Management Act. Minister Marape said this in response to a letter by the Opposition Leader wherein the Minister was asked to pay all Opposition Members their Electorates’ DSIP Funds. The Opposition Leader was concerned that Government MPs have all received K3 Million each to date, whereas Opposition MPs have received nothing or less than K3 Million. The Minister claimed that the actions were in no way intended to penalise the Members of the Opposition. He stressed that by the year’s end, all MPs will have received K10 Million each for their respective Electorates. The Opposition Leader in response said that the Minister must b

By BELDEN NAMAH, MP Leader of Opposition Minister for Finance Hon. James Marape stated in a letter to the Opposition Leader regarding the delay in payment of DSIP funds, stating that the delay in the funding was due to cash flow and tight management of the deficit budget, and that, he was acting within the powers conferred to under Section 3 of the Public Finance Management Act. Minister Marape said this in response to a letter by the Opposition Leader wherein the Minister was asked to pay all Opposition Members their Electorates’ DSIP Funds. The Opposition Leader was concerned that Government MPs have all received K3 Million each to date, whereas Opposition MPs have received nothing or less than K3 Million. The Minister claimed that the actions were in no way intended to penalise the Members of the Opposition. He stressed that by the year’s end, all MPs will have received K10 Million each for their respective Electorates. The Opposition Leader in response said that the Minister mu

PAPUA New Guinea's treasury department is considering a recommendation to regulate house prices in the country. Treasurer Don Polye says he has asked his department to examine a recommendation by PNG's Independent Consumer and Competition Commission to regulate the nation's housing market. "I have asked the department to look at it," Mr Polye said in response to a question at a recent press conference. "I believe in competition. The economy must grow on competition. Where it is really necessary, we have to introduce regulation. "I would like to see a market that is less regulated and free, competitive, quality-oriented and more thriving." Mr Polye, who is acting prime minister of the Pacific Island nation while Peter O'Neill is on a state visit to Indonesia, said his focus is to reduce high prices and inflation. PNG's annual rate of inflation slowed to 2.2 per cent in 2012; however, some analysts believe it will pick up to an

PAPUA New Guinea's treasury department is considering a recommendation to regulate house prices in the country. Treasurer Don Polye says he has asked his department to examine a recommendation by PNG's Independent Consumer and Competition Commission to regulate the nation's housing market. "I have asked the department to look at it," Mr Polye said in response to a question at a recent press conference. "I believe in competition. The economy must grow on competition. Where it is really necessary, we have to introduce regulation. "I would like to see a market that is less regulated and free, competitive, quality-oriented and more thriving." Mr Polye, who is acting prime minister of the Pacific Island nation while Peter O'Neill is on a state visit to Indonesia, said his focus is to reduce high prices and inflation. PNG's annual rate of inflation slowed to 2.2 per cent in 2012; however, some analysts believe it will

Millions of dollars allegedly corruptly obtained from the PNG government have been siphoned to Australian banks, confidential banking documents reveal. Fairfax Media has also confirmed that Australian bank NAB recently increased its due diligence on some money transfers from PNG due to corruption concerns. The allegedly dirty money stems from a corruption scandal gripping PNG that has led to the suspension of senior government officials and Prime Minister Peter O'Neill last month asking the Australian Federal Police and Interpol to help investigate. Mr O'Neill also threatened to sack all staff in the country's Finance Department after allegations in Parliament implicating top officials and prominent lawyers. Advertisement Law enforcement sources believe up to $500 million may have been stolen from PNG government legal aid funds over several years. A NAB spokesman said on Tuesday that the bank late last year ''heightened our due diligence relating to some funds from

Millions of dollars allegedly corruptly obtained from the PNG government have been siphoned to Australian banks, confidential banking documents reveal. Fairfax Media has also confirmed that Australian bank NAB recently increased its due diligence on some money transfers from PNG due to corruption concerns. The allegedly dirty money stems from a corruption scandal gripping PNG that has led to the suspension of senior government officials and Prime Minister Peter O'Neill last month asking the Australian Federal Police and Interpol to help investigate. Mr O'Neill also threatened to sack all staff in the country's Finance Department after allegations in Parliament implicating top officials and prominent lawyers. Advertisement Law enforcement sources believe up to $500 million may have been stolen from PNG government legal aid funds over several years. A NAB spokesman said on Tuesday that the bank late last year ''heightened our due diligence relating to some funds fro

By Graham Tenaen Robinson The 105 MPs gave O’Neill the benefit of the doubt in having dominion over the seat of the Prime Minister, however most importantly are the 7.5 million citizens in this country represented by their MPs in re-correcting a political incorrectness since 1975 with regards to the slaughter of West Papuans . Always showing a calm and collective pose our O'Neill portrays maturity and experience, yet the moment of truth depicted an uncharacteristic of our PM just on the eve of the last parliament sitting when information was leaked through to his office about the Paul Paraka payment in which the Opposition Leader was aware of. A dramatic report in the dailies captured the attention of this country through a defamation lawsuit by O’Neill against Namah for character smearing statements made in Morobe Province last month that was unsurprisingly given front-page exclusive on both dailies –The National and Post Courier. Such the intensity in news items added a new vigou