Showing posts with the label Public Finance Act


by JACK NAIME Another independent international assessment of Papua New Guinea’s financial management has contradicted the spin and deception by Prime Minister Peter O’Neill, Treasury Secretary Daire Vele and the mainstream media led by the Post-Courier. The report, Poor Financial Management in PNG: Can It Be Turned Around? Is available here: . It was written by PFMConnect, a respected international consultancy specialising in developing country financial management. The report slams the O’Neill Government’s financial management and reinforces the criticism of other independent international observers who have exposed the corruption, incompetence and waste that is rife under Peter O’Neill and Daire Vele. Papua New Guinea ranks 21st out of the 24 assessments of Public Financial Management conducted by the IMF last year, according to the report. Most alarming is the fact that under Mr O’N

IMPLICATIONS OF THE Sovereign Community Infrastructure Treasury Bills (SCITB)

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