Kina struggles, citizens suffer

AS a local citizen, I’m feeling the pinch of the devaluing kina which is affecting my spending, both domestically and internationally.
I have never felt that before but I can now literally feel that it is affecting me at my personal disposal-income level.
The same is probably the case with other people.
When the 2018 Budget was passed last month, every price of goods and services increased.
At this challenging time, the Government must realistically address the real issues affecting people’s income, spending and savings.
This issue of the weakening kina, with the shortage of forex in the banking system, has a widespread negative effect in the lives of people.
I’m now appealing to Loi Bakani to remove the peg for “spot rate foreign currency exchange regime” by re-introducing the floating foreign exchange rate system into the financial system.
We understand that the change has been sponsored by this government because the financial institutions were making too much money on FX businesses.

Eugene Wandu
Gerehu, Port Moresby