Abel, Lelang concerned over economic stability

SHADOW Treasurer Joseph Lelang and Alotau MP Charles Abel have raised concern about the Government’s efforts in trying to stabilise the economy, describing recent decisions by the prime minister “irresponsible and erratic”.
Both men stated that the economy was collapsing as the Government failed to “introduce measures that mitigate and reverse the trend”.
Lelang said: “Inflation has risen over 4 per cent compared to last year, unemployment has risen 8 per cent, total retail has contracted, shops are closing, small businesses are closing – they are streamlining.
“It has declined and contracted by K70 million.
“In 2019, the mining and petroleum sectors comprised 88 per cent of total exports but now we see it as a slowdown of exploration activities in the country, not like before.
“Porgera has not started, the LNG production has declined by 90,000 metric tonnes compared to last year.
“This is the kind of situation we are faced with.
“The economy is collapsing .
“The reality is our country is going backwards, we are going deeper into debt.”
Abel said: “These projects are needed by PNG, we cannot use dangerous rhetoric and investment- type words as in the end, it reflects our people.
“Porgera the irresponsibility of allowing an operating mine when gold prizes are at a record high and when we are starving of income and jobs, you must be responsible for your words and you must have a plan of action.
“You cannot shut projects down, operating projects.
“When are you going to do this things, PNG are suffering and struggling, we cannot sit by.
“The Papua LNG project was ready to go – that’s K13 billion.
“Some of the laws stripping away the rights of landowners, the amendments to mining and petroleum stripped away the SML landowners in the interest of companies, the provincial governments rights have been stripped.
“Where was the consultation and due process, you have senior ministers telling you. We are trying to do the best thing in your interest, this is how democracy works.”