Check financial institutions

THE borrowers of finance are silently robbed by a loan called rebate loan implemented by financial companies.
It sounds like an additional loan but its loan interest and other expenses are beyond the loan operations of the commercial banks.
We have little understanding on how this loan works.
Can the Finance Department investigate and find out if this loan is accepted by law?
Many public servants and other workers are struggling with loan repayments.
Businesses dealing with finance should educate people about the various types of loans available and their effects.
Papua New Guineans working and facilitating such transaction in those finance companies lack the knowledge of proper explanation and have been collaborating with their employers to make money for the firms.
We are happy with Finance Minister Sir John Pundari’s statement to put a stop to such loans, but we haven’t seen anything done about it yet.
We want the Government to ensure financial businesses operating in our country are operating in accordance with the law.
Papua New Guinea appears to be a playing field for anybody wishing to conduct business at their own terms and to operate as if there are no rules and regulations.
To drive the “Take back PNG” agenda, the Government should look at the sources of financial leakages everywhere and one of the main area is the public servants salary leakages.
People should have money in their bank accounts to provide for themselves and stand firm in their decision making.
They should not go home with very little pay every fortnight, which causes them to look elsewhere and compromise with so many unnecessary practices.
When you look at how much is paid to finance companies per fortnight from salary deductions, it reaches thousands, hundred thousands and even millions.
Where are these money going?
They go to the owners and shareholders of financial institutions.

Jack Anis Kukiwa,
Lae Kram