Develop habit of saving, Rabaul leader says

National, Normal

The National, Thursday October 10th, 2013

 Papua New Guineans have been reminded to develop a savings culture.

West New Britain Governor Sasindran Muthuvel said Papua New Guineans, influenced by the consumerism culture, were spending all their money on immediate sense gratification.

He said it was about time they learned “delayed gratification” for the benefit of their families and children. He said instead of unnecessary spending, they should learn the savings culture, which was lacking.

His call comes after Prime Minister Peter O’Neill, ministers and bank officials commented on the bad habit of spending “like there is no tomorrow” by locals. 

They said locals needed a savings culture. Muthuvel said parents and teachers should encourage young children to save for their future.

On another subject, he said children should be discouraged from drinking soft drinks in cans and bottles that had an extremely high amount of sugar.

He stressed that drinking all these soft drinks were main causes of diabetes and other health issues.

“There is a need to introduce the sale of fresh juices and encourage people to drink more water instead of soft drinks,” he said.

He said in the case of West New Britain, the provincial government was seriously thinking of partnering with banks to encourage people to learn to save. 

He said the government was looking at the option of providing some special bonus or allowances for those who were willing to save.

He observed that many Asian trade stores were popping up every day because of the lack of discipline and spending nature of the people.

He was disturbed with Asian trade stores selling imported Chinese alcohol and the uncontrolled sale of beer.