K30bil GDP growth in 3yrs: PM

By VANESSA NIKEN
PRIME Minister James Marape says when he formed the Government in 2019, Papua New Guinea was in economic recession and the gross domestic product (GDP) was K78.6 billion.
“Today, it is K109 billion. We grew the GDP by K30 billion in three years, despite the recession,” he said. “You can confirm all these facts with the World Bank, International Monetary Fund, Asian Development Bank and our own Central Bank. By 2018, our country was already on record as officially in recession at – 0.3 per cent growth. Basically, this means PNG had run out of money!
“This is the fact, a fact that is absolutely contrary to what (former prime minister Peter) O’Neill has been spinning lately that he had fixed the economy of the country!
“So guess what? To the doomsayers and those in the Opposition, the World Bank stated in March that PNG’s economy will hit K109 billion by the end of this year.
“In three hard years, by God’s grace and by using an economic tool called deficit budget financing strategy, we have kept the economy operational.
“James Marape is not stupid. I am the son of the everyday Papua New Guinean – I know what it feels like and how to help everyone right across the country.
“So Mr O’Neill, I am telling you, in eight good years, when my gas was flowing out in 2014 and PNG was supposed to be alright, you grew the economy by only K35 billion.
“For me, in three hard years of economic recession and Covid-19, I grew the economy by K30 billion. That is my record.
“Within the next seven years, Pangu aims to grow the economy by over K200 billion. With our fiscal consolidation plan to bring budget to surplus in 2027 and become debt-free by 2034, the road we are travelling on is good.” Marape said Pangu put PNG back on track by tackling corruption after it formed Government three years ago.
“Corruption had consumed 20 to 30 per cent of PNG’s wealth. We started the Independent Commission Against Corruption to fight corruption,” he said.
Marape spoke at a Pangu Pati election rally for all its National Capital District candidates at the Sir John Guise Stadium in Port Moresby on Sunday.
“Papua New Guineans either vote Pangu Pati back to continue its reconstructive work in rescuing the damaged national economy, or make the mistake of returning PNG to the hands of the People’s National Congress,” he said.
“Pangu’s growth focus are building good housing, good economy, good education and health systems, good infrastructure and roads and improving public law and order.
“We will also give school dropouts a second chance in education and business.
“We got our country back from greedy hands, or people who only think of themselves and their business, (including) Members of Parliament who want to make business.
“My wife and me have no business but only serve the country. Money is not important, policy is. Give us the next five years.”

West Sepik gets election funding

WEST Sepik has received its funding for the General Election 2022 for training, polling and counting, says provincial election manager Salote Kai.
She said the materials for polling and counting are expected this week.
Kai said since time was running out, they would fast-track trainings for assistant returning officers, polling and counting officials.
“This week is for material disbursement to Oksapmin and Telefomin, while materials for Yapsie and Namea will be dispatched through Vanimo once they arrive from Port Moresby,” she said.
“Election office officials will discuss the drawdown of funding. The only thing that we are thinking of now is the gazetting of the AROs. If this is not done early, it may delay the AROs training.
“Generally, there has been no major law and order situation in the province. The nomination and campaigning were conducted peacefully.”
Kai urged West Sepik people to refrain from election-related offences and to maintain peace.

Govt pledges K700mil grant for Porgera

PRIME Minister James Marape says the Government has made a commitment of K700 million to resettle the people in the Porgera mine project impact area.
He told people in Porgera, Enga, yesterday that it would be broken down to K100 million a year for the next seven years.
“The K700 million was under the infrastructure development grant for Porgera,” he said.
“I would like to see a proper resettlement exercise.
“There is a way to draw down this funding early to enable the planning of a proper mining township so you can settle people properly.”
A commitment was made to do away with the Mineral Resources Enga (MRE), as a decision needed to be made for the split in benefit between the landowners and the Enga government.
“Some decisions have been made,” he said.
Marape said while the mine has not been opened yet, the Government had put aside K100 million for the MRE to set the new Porgera mine on a new path.
“If the landowners would like to come up with a company, then that’s up to them,” he said.
Marape said K40 million had been given while the balance of K60 million would be given once the development forum finalised the reopening of the mine. He said the K100 million was allocated under the business development grant to cater for businesses which had to shut down because of the mine’s closure.