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Showing posts with the label PNG

PNG WHERE YOUR KINAS BUYS MORE

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by  Therow Zuaru ‎ The economy of the world and the way money is valued, is one of the biggest scams of the universe. Money and wealth are naturally backed by mineral resources, land, and basically physical commodities such as precious metals. But in Papua New Guinea, it is not so. It has created a view on national success as putting priority budget areas on financial assistance. It is amusing to watch our politicians continue to become researchers researching into international financial schemes like WB, IMF, Exim Bank, ADB, EU, Ausaid, UBS, EU for soft loans development funds, financial aid to survive. Virtually for almost 45 years these financial institutions have been the proud sponsor for Papua New Guinea existence. Papua New Guinea has been recipient of foreign assistance since independence and prepare our budgets factoring the aid dynamics into them. Important issue we must look at is the financial assistance has obviously been a primordial source of income for many Papu

KUMUL PETROLEUM’S DEALINGS: BANKRUPTED A NATION AND BROUGHT DOWN A PRIME MINISTER

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by REGINALD HAUREVA Reference a recent letter to the Editor of the Post Courier under the  caption “Kumul Petroleum,  Petronas in the making” published on June 12,  2019, authored by one “ BUSH COMMERCIAL LAWYER OF PORT MORESBY”. The timing of this letter is quite uncanny. It was obviously timed to pre-empt and cuff the hand of Hon. James Marape MP, the new Prime Minister, who is the trustee shareholder of Kumul Petroleum Holdings Limited and associated companies (“Kumul”). However, its timing betrays a tinge of fear our bush lawyer obviously harbours in the new government having its own ideas of just what role, if any,  Kumul Board and its current CEO, Mr Wapu Sonk could play, in the greater campaign to take back PNG. For information of the Bush Lawyer, the Kumul Petroleum Trustee has the power to sack any or the entire Board(s) and the CEO, if he pleases. But that is too simplistic. The fact that someone high up in Kumul obviously prompted such a letter to be written is itself s

CENTRE-PIECE OF CABINET: KRAMER & KUA

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by JOHN KAMA The new Marape-Davis government has created a centre-piece in the cabinet that the entire country is drawn in with so much interest in the appointment of Kerenga Kua and Bryan Kramer among the 33 cabinet ministers.The following are the uniqueness about their appointment, hence, became the centre-piece of attraction: 1. They were members of the opposition who never voted for PMJM. 2. Their appointment to ministry as opposition members was unconventional in the WestMinster System. 3. They were the two top critics of the last government whom PMJM & majority of his current cabinet members were part of. 4. They both stood for zero tolerance on corruption at all levels by both citizens and non-citizens. 5. They were both outspoken on white collar corruption and the arrest of former PM Hon. Peter O'Neill and his cronies. 6. They both understood every letter of the law and were willing to use the courts as their strongest weapon against anyone. Why PMJM appointed

PETER O'NEILL PERSONALLY AND UNILATERALLY DIRECTED PNG TO BORROW USD$1.2 BILLION

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by DR PATRICK ONGUGLO The stitched up act in Parliament last week all a lie... Peter O'Neill used his position as PM to put PNG into more debt, read how O'Neill drummed up this idea back in 2014. Prime Minister Peter O’Neill (‘aka O’Steal) has personally and unilaterally directed that the State of PNG borrow US$1.2 Billion Dollars through international financiers syndicated by the Swiss UBS Bank, to buy 10% of Oil Search Limited (OSL) shares. It is believed this transaction is motivated by personal gain. Therefore, this loan is believed to be for a corrupt outcome. This corruption is perpetrated by UBS and other international banks lending the money.  PNG does not need the loan. It is Peter ONeill who needs the loan for his own corrupt gain. He is using the country’s assets to obtain a personal benefit. This must be made very clear to the international lenders. On this basis, no future PNG Government will be liable to repay the funds, lent for an illegal purpose.  As o

Reason behind O'Neill's wet pants moment running to Supreme Court to stop VONC

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by HELASON OPENE You know why Mr Panic O'Neill ran over to Supreme Court to stop VONC? Here is the real reason... Supreme Court interpretation of Sections 19 of the Organic Law on Integrity of Political Parties and Candidates was made by the former Chief Sir Salamo Injia in 2011 and 2016. It was ruled, some parts of this section of the constitution unconstitutional (removed). No longer applicable; 1) Part of the law (Section 19) that states, all PM candidates must be leaders of their political parties and must have the highest number of its candidates winning in elections. Only parties with the highest number will be allowed by the Governor General to form a government. #RULLING: Supreme Court ruling made this part of the law unconstitutional (removed). That means any MP can be a PM candidate regardless as long as he/she can master the number on the floor of Parliament. 2) Part of the law (Section 19) that states, MPs who have voted for a PM in the formation of the new g

From arrows to M16s: PNG tribal fights get ever deadlier

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by ANDREW BEATTY -AFP Tribes in Papua New Guinea's rough and rugged highlands have fought each other for centuries, but a recent influx of automatic weapons risks turning minor beefs into all-out war. Israel Laki misses the old days -- just a few years ago -- when clansmen would settle fights in what he deems the proper way: with bows, arrows, axes and spears. It was honourable, he insists, even if an arrow once thumped within millimetres of his heart as he tried to axe a rival tribal fighter to death. The wiry 69-year-old still carries the scars and spirit of the old ways from this picturesque part of central Papua New Guinea, which westerners only reached in the 1930s. Even today, the modern state is little more than an abstract concept in the isolated region, where few respect the government. Old rivalries persist, as do fights over rape, theft and tribal boundaries. But tradition is increasingly melding with modernity, to devastating effect. Locals now speak d

PAPUA NEW GUINEA DEVELOPMENT VIEW

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by TONY CHARLES KEROWA Papua New Guinean development aspirations are all jumbled up and not in order. The National Government should invest its resources including Money where it will improve the lives of its people. From my observation and experience, there is more grandstanding on the political level building statuesque and echo more than planning on bringing tangible development to communities and towns by elected representatives from both sides of the house. The following important key development areas should be prioritized. 1. Improving Road and Bridges : Opening up and connecting the rural PNG communities through improved Road and Bridges will give an opportunity for our people to work on their land by converting ideal land to economic value by planting cash crops and livestock on a commercial scale. The Department of Works should be reviewed and upgraded to function independently. The Department should operate as independently as possible 2. Improving and empowerin

In Papua New Guinea shanty-towns, residents question APEC legacy

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by PHILIP WEN PORT MORESBY: Barely a five-minute drive from the US$50 million conference venue for the just-concluded Asia-Pacific Economic Cooperation summit in Papua New Guinea's capital, a makeshift squatter settlement is tucked away from visiting world leaders. The Wanigela settlement in Port Moresby looks out directly over APEC Haus, but might as well be a world away. With the South Pacific nation's rainy season looming, Wanigela's thousands of residents are packed together in overcrowded and dilapidated dwellings with no sanitation and unreliable electricity supplies. For all the hope and promise the APEC summit would put PNG on the world stage – and attract investment that will translate into jobs and infrastructure – many are questioning how such an international event will benefit their everyday lives. "The government says APEC is going to improve our lives, but I don’t know, because our politics is not trustworthy," said Bra

80% OF O'NEILL GOVT MPS SET TO LOSE THEIR SEATS IN 2022

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by BRYAN KRAMER MP Up to 80% of sitting Members of O'Neill Government are expected to lose their seat following 2022 General Elections. Why? Corruption and mismanagement of the Economy. The last time our economy nose dived was in 1997 and 1998 under Skate PNC Government, a Government Peter O'Neill was a key adviser to. In just two years under a PNC led Government Kina plunged in value from being one and a half times stronger than Australian dollar in 1994 to less than 37 cents by end 1999. Interest rates on Government Treasury bills was as high as 24% which would normally be between 6%-9%. Lack of confidence in Skate Government also saw investors and private sector rush to send funds out of the country, concerned over the Kina fast losing its value. This caused a serious shortage in foreign currency reserves that went from US$500 million in 1996 to as low as $80 million by middle of 1999. In 1996 the debt levels were around 36% in less than one year under Skat

DANGEROUS SECRECY BEHIND THE CLOSE DOOR BETWEEN CHINA AND PNG DEBT-TRAP NATION.

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by JAYLON JACOB Everyone knows the history and international politics, I will just give a brief ... Power in international relations is defined in several different ways.. Those states that have significant amounts of power within the international system are referred to as Superpowers, big powers, middle powers, and small powers respectively. The power is measured by military and economic power. Countries like the US, Russia, China are a superpower...Example of Big power countries are Great Britain, France and for middle power in Australia and few others...So PNG fits into small power group...That means PNG can be easily influenced by Super Power countries in terms of money via aid and military by conducting an exchange training programme or other means. Going back to political history..The Cuban Missile Crisis, in 1962 confrontation between the United States and the Soviet Union concerning American ballistic missile deployment in Italy and Turkey with consequent Soviet ballist

Connection with Bonifica - Italian Donor of 40 Maserati to PNG APEC

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by MICHAEL J. PASSINGAN Many have asked the questions who paid for the 40 Maserati cars that will be used during APEC? Word on the street is that there is a certain expat in Department of Works (name withheld) who originally from Sri Lanka looks after awarding of donor-funded projects. He is the person that PM O'Neil deals directly in any awarding of contracts. The person has a great connection with many influential people and donors around the world. A few months back, a Tender for Highlands Highway Rehabilitation Investment Project (HHRIP) was organised by the DoW with funding from the Asian Development Bank (ADB) at a circa K3.0 billion kina to fund the rehabilitation of the highlands highway. Most of the top Engineering companies such as Cardno, SMEC, China Railway Construction, those with exceptional qualification and PNG experience were overlooked with the tender awarded to the Italian Firm - Bonifica. It appears the firm was promised of paying for the Maserati wi

PNG POWER CEO REMINDS PNG THAT WE ARE STILL IN "THE STONE AGE"

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by ROBERT T MARAPE PUMA ENERGY which is owned by Prime Minister Peter O'Neill and currently supplies diesel to PNG Power conspired with Carolyn Blacklock to sell off the gas powered gensets because they pose a threat to Puma. It's in exchange for writing off Inter Oil K4b tax owed to the PNG government. Some PNG consortiums are interested in buying the gensets to establish gas power stations to supply power to PNG Power at a cheaper rate than that of diesel power. There seems to be conspiracy and conniving between certain top elements in government, Carolyn Blacklock and expatriates in Deloitte, Puma Energy, PNG Power to rob PNG further by selling the gensets that originally cost K50m each or total K100m. Obviously, they will sell to their preferred buyers under shady deals for a private commission The government has transferred the two GE generators to PPL to utilise local gas for power generation. Under the controversies over APEC spendings etc, PPL, in particular, Ca

PNG'S BUDGET DEFICIT IS AT LEAST K1 BILLION GREATER - CHARLES ABEL LIED THROUGH HIS TEETH

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by PAUL FLANAGAN Deputy Prime Minister and Treasurer Charles Abel’s credibility was on the line. Did he actually deliver on the 100 Day Plan promised reduction in PNG’s 2017 budget deficit from unsustainable levels? The answer is almost certainly “no”. The actual 2017 budget deficit is conservatively estimated at over K1 billion larger than claimed – largely due to not paying bills or GST refunds. The conservative estimate would lift the size of the 2017 Budget deficit from 2.4% to just under 4% of GDP. However, the upper bound deficit estimate is K2 billion larger – or more than double – the K1.8 billion budget deficit reported in the 2017 FBO. Even a 4% outcome would have better than the budget deficits of 2014 to 2016. However, the reductions were made in the wrong way. Expenditure was cut entirely in areas key for PNG’s future growth and concessional loan projects were delayed. Even using FBO figures, the blow-out in operating expenditures entirely consumed the claimed incre