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Showing posts with the label Chinese

O'NEILL KEEPS LYING THROUGH HIS FALSE TEETH ABOUT THE ECONOMY AND LOANS

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by FONTENU BULLETIN Most Papua New Guineans watched the telecast of Wednesdays Parliament seating with utter disgust and disbelieve. I for one was very sickened to hear a response from the Prime Ministers mouth on the floor of the honourable house on the question put to him both by Lae MP John Rosso and Madang MP Brian Kramer. In his responses, he did three reckless and senseless things: 1. He LIED in broad daylight about the total sum of loans
2. He THREATENED to suffocate an entire district from development funds
3. He FORCED everyone to only trust what comes out from his mouth and not from any internationally independent organizations and observers This write-up is a comprehensive analysis that will not only maintain that O’Neill has lied, but will go ahead and expose ALL loans for everyone to calculate and confirm whether O’Neill loan figure of K24 Billion is correct or the reports from International Monetary Fund (IMF) and World Bank of K70 Billion and K60 Billion respectively are …

2017 BUDGET BLOW-OUT

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PRESS RELEASE by Rt. Hon SIR MEKERE MORAUTA MP

Former Prime Minister and Member for Moresby North-West Sir Mekere Morauta said today that at last some members of the PNC Government have admitted that the Papua New Guinea economy is in difficulty.  Sir Mekere referred to the media statement by Deputy Prime Minister and Caretaker Treasurer Charles Abel, who said that the focus of the government in its first 100 Days would be on “economic recovery”.

Sir Mekere noted that this was an interesting admission and use of words by Mr Abel, because the Prime Minister has consistently refused to recognise that the economy is in recession, and has mismanaged public finances in such a way that has allowed the recession to intensify.
“My advice to Mr Abel is that before he launches into any “recovery” measures, he needs to repair the budget and reform his Prime Minister and curb his extravagant and uncontrolled spending and borrowing,” Sir Mekere said.

“The non-mining sector, on which the majority o…

Sri Lanka, the first Asian country to become the victim of China’s debt trap - Warning signs for PNG

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by MANISH SHARMA
Editor’s note: All Pacific nations need to read this story and heed the warning before it is too late. One of you could be next. SRI Lanka has been crippled under a severe debt problem.

In the last decade, it has invested billions of dollars in building huge infrastructure and most of the projects haven’t yet produced any adequate returns. Sri Lankan Government is now struggling to make payments and hence facing a severe debt crunch.

Sri Lanka’s total debt stands at $64bn. About a whopping 95 per cent of all government revenues go towards debt repayment. The debt to China is eight billion dollars. Many local citizens feel the country is being sold to the Chinese.

The problem is that money borrowed has been seemingly squandered on infrastructure that shows no sign of turning a profit, which is even more damaging for the Sri Lankan economy.
Sri Lanka availed easy loans from China in order to build infrastructure across the nation. China offers easy loans t…

CHINESE MISTRESS INVOLVED IN SCREWING TREASURY SECRETARY FOR CONTRACTS SPOTTED TOGETHER IN BRISBANE

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by MICHAEL J PASSINGAN
PNGBLOGS have been provided with a video and still shots of Peter O’Neill’s Treasury Secretary Mr. Dairi Vele and controversial Chinese mistress Dora Liu a known prostitute to several PNG Ministers and government department heads.
This goes to prove the allegations previously raised by PNGBlogs that Dora Liu is in fact an agent of the Chinese government and her role is to oversee all contracts that are tied with Chinese Loans be directed at companies that are Chinese and PNG will have to pay for the serving of these loans with their future generations.
Dairi Vale’s now engagement with Dora Lu will cause some firestorm up there with his current girlfriend and Prime Minister’s lawyer TIFFANY TWIVEY. Twivey who came to Vele’s aid after he was issued an arrest warrant has been evading justice thanks numerous court orders taken by Tiffany Twivey. Court officials at the National and Supreme Court in Waigani have been told to delay any proceedings that involved the Prim…

PETER O’NEILL’S ROLL OUT OF THE ILLEGAL K6 BILLION CHINESE EXIM BANK LOANS

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by BARRY PISIMI

On or around September 2012, immediately after Peter O’Neill was installed as the Prime Minister, he (O’Neill) took a huge delegate to China, organised by his sidekick, Ni Cragnolini. It was openly reported that a loan of K6 billion was obtained from the Chinese Export-Import Bank (Exim Bank) to fund certain rehabilitation of ailing infrastructures. One would have thought that PNG Powers rundown and incompatible power generation and distribution equipment would be first priority. NO!

The K6 Billion was never appropriated in the 2012 National Budget, nor was it captured in the subsequent budgets in 2013, 2014 and 2015. We really don’t know whether that loan was obtained and if so, did the money ever enter PNG?

One of the mandatory conditions of Exim Bank loans is that a Chinese multi-national corporation, mostly State owned enterprises, has to be nominated to deliver the projects identified by the recipient country. Under this arrangement, the funds remain in China. Onl…

HOW MANY WARNINGS CAME OUT THROUGH PNGBLOGS TO TRY AND AVOID THIS CATASTROPHE?

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by JACK G WAUGLE

Peter O'Neill and his out of control government have been running what has been a functional dictatorship.  There is no opposition and nearly all the MPs we elected proved to be docile puppets who spoke not a word of protest or concern, so focused were they on getting their DSIP and other development monies from the PM which in turn, was what they reckoned was their key to getting re-elected.  Hardly ever did nationalism come first or concern for PNG.  There were warnings after warnings about the out of control, loan fuelled infrastructure building for the Pacific games especially, a gigantic waste of money that all has to be paid back with interest.  Made all the more wasteful because of the built in kickbacks to Tom, Dick, Harry, and oftentimes the Chinese themselves. 
So many people on the social media just didn't get it.  Maybe the warnings of pending doom all looked like a dreamland, but again and again the evidence was presented:  a blow-o…

CHINESE IN PAPUA NEW GUINEA

State, Society and Governance in Melanesia


There is almost no similarity to, or continuity with, the Chinese in Papua New Guinea now and the Chinese of the 1930s who, even if born in New Guinea, held a certificate of registration of an alien on which the bearer was identified by his thumb print. The Chinese were then a minority, largely unprotected by a home government, subject to petty discrimination, deliberately avoiding party politics and only entering the public arena to make a general show of being loyal citizens in such events as the Rabaul Empire Day parade.
The Chinese in Papua New Guinea now outnumber Australians by two to one; some are backed by a powerful government in China which is extending its global political and economic reach, and some have connections to other governments in Southeast Asia; they are engaged in billion dollar resource projects; they have joined vigorously in public debate, hiring high competence in public relations, and one of the major resource firm…

CHINESE IN PAPUA NEW GUINEA

State, Society and Governance in Melanesia


There is almost no similarity to, or continuity with, the Chinese in Papua New Guinea now and the Chinese of the 1930s who, even if born in New Guinea, held a certificate of registration of an alien on which the bearer was identified by his thumb print. The Chinese were then a minority, largely unprotected by a home government, subject to petty discrimination, deliberately avoiding party politics and only entering the public arena to make a general show of being loyal citizens in such events as the Rabaul Empire Day parade.
The Chinese in Papua New Guinea now outnumber Australians by two to one; some are backed by a powerful government in China which is extending its global political and economic reach, and some have connections to other governments in Southeast Asia; they are engaged in billion dollar resource projects; they have joined vigorously in public debate, hiring high competence in public relations, and one of the major resource firm…

Ramu mine company posts huge profit

PNGEXPOSED

The Chinese State-owned MCC corporation which owns the Ramu nickel mine in Papua New Guinea has posted a huge profit for the six-months to June 2010 of US$540 million. This profit was generated from revenues of over US$13 billion.
In that period the company has also moved from being ranked as the 380th biggest company in the world to a new ranking of 315th.
The company’s six-month profit of US$540 million puts in stark perspective the losses the company claims it is making on its stalled Ramu mine project which is currently on-hold after landowners obtained a court injunction preventing construction of the mine’s proposed deep sea tailings disposal system.
While in PNG, MCC has been crying over the amount of money it says it has been loosing, it has not been  revealing the massive profits it has been reaping from its transnational operations.
The company’s six-month financial report(warning: file size is 4.5mb) also paints a very different picture about the size of the…

Ramu mine company posts huge profit

PNGEXPOSED

The Chinese State-owned MCC corporation which owns the Ramu nickel mine in Papua New Guinea has posted a huge profit for the six-months to June 2010 of US$540 million. This profit was generated from revenues of over US$13 billion.
In that period the company has also moved from being ranked as the 380th biggest company in the world to a new ranking of 315th.
The company’s six-month profit of US$540 million puts in stark perspective the losses the company claims it is making on its stalled Ramu mine project which is currently on-hold after landowners obtained a court injunction preventing construction of the mine’s proposed deep sea tailings disposal system.
While in PNG, MCC has been crying over the amount of money it says it has been loosing, it has not been  revealing the massive profits it has been reaping from its transnational operations.
The company’s six-month financial report(warning: file size is 4.5mb) also paints a very different picture about the size of…