Borrowing led to tax hike


THIS is an open appeal to some of the good back-bencher MPs and governors, including senior statesmen like Sir Julius, Paias Wingti and Sir Peter Ipatas in the PNC-led government, to take a serious look at current mismanagement of the economy.
Prime Minister Peter O’Neill needs to be removed outright for placing the country in huge debt by increasing the debt to GDP ratio from 30 per cent to 35 per cent and continuing to recklessly borrow.
This country is clearly operating on borrowed money despite all our rich and diverse natural resources, including the multi-billion dollar petroleum and mining sectors.
The huge loss reported by the Kumul Petroleum Holdings and revealed by Opposition leader Patrick Pruaitch last week is a clear demonstration that State-owned enterprises are being used as mortgage to bankroll billions of loans from foreign and domestic banks such as BSP.
With the introduction of new tax measurers as announced by the treasurer in the 2019 budget, grass roots Papua New Guineans will really feel the pinch to dig deeper into their pockets.
Corruption in public and private sector will increase.
There will be more armed robberies and hold-ups as people will be looking for ways to make money to sustain their livelihoods, due to the increase in the prices of basic goods and services in the country.
The country is falling apart and is falling fast.
Therefore, I appeal to some of our good and learned MPs and ministers in this current Government to seriously reassess their positions and place the interest of their people at first.
Stop worrying about the services improvement programme funding because this are designated funds and you will still receive it.

Freddy Gigs

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