Call to repay loans with projects’ gains

By CLIFFORD FAIPARIK
Commerce and Industry Minister Wera Mori says revenue generated from major projects like Pacific Marine Industrial Zone (PMIZ) in Madang must be used to repay foreign loans borrowed to start them.
Mori said this yesterday to explain his trip to Madang to discuss the PMIZ project.
Madang Governor, Peter Yama, had complained in the media on Thursday that Mori was in Madang without his knowledge to talk about PMIZ.
“Loans obtained to start multi-million kina projects like the Pacific Marine Industrial Zone in Madang must be repaid from revenue generated from the project,” he said.
“We must not use the tax generated from the people to repay the loans.
“PMIZ is a national project.
“The securing of the loan from China Exim bank is drawn down in such a way that is negotiated between China and Papua New Guinea governments.
“It is the property of the National Government.
“We are working together with Madang provincial government to get it off the ground.
“My department is responsible for this project.
“Since that the people of PNG are paying for this project, I have to check it.
“My responsibility is to make sure that enablers like water, electricity and wharves are in place.”
Mori said that he was in Madang last week but didn’t take part in discussions of the project because Yama was not there.
“Only my officers had discussion with officers from the provincial government,” he said.
“I apologise to Yama if he had misunderstood my visit there.”