Establish gold bullion banks in the country

THE Morobe government’s business arm – Morobe Resource Holding Limited (MRHL) – should consider establishing a gold bullion bank in Lae in the next five years.
Papua New Guinea should own and operate its own gold bullion bank instead of exporting gold products to other countries.
These foreign countries can buy our gold bullions at our prices.
Morobe, with Hidden Valley and Wafi-Golpu in Bulolo can apply for a banking licence from the Government to operate a gold bullion bank in Lae.
The nine districts and thirty three local level governments of Morobe, business houses and other stakeholders including the Government can become shareholders.
Morobe’s districts can have directors appointed by their development authorities on MRHL’s gold bullion bank board.
The board should also have a representative from the Government, appointed by National Executive Council and a representative from the Morobe government appointed by provincial executive council.
PNG should do away with the continuous loan borrowings from 2022.
Start to lend and turn our imports into export-driven commodities and stabilise the kina against the US dollar and other currencies.
Our politicians should put aside their political differences and concentrate on building this country for the benefit of future generations.

Samson C Napo, Bulolo