Papua New Guinea is definitely in trouble.
The Budget for 2018 sounds promising – but
We are borrowing very heavily to finance our Budget. Switzerland, World Bank, ADB were mentioned as the financiers. Where does that leave the Chinese EXIM Bank? Did the Opposition catch the government with questions from the Shadow Minister of Treasury?
A deficit Budget is good, but the government is killing the goose that lays the golden egg by making loggers pay when major mining companies have political clout to defer any worthy review of their businesses.
The petroleum authority will kill LNG. The government is not addressing the breakdown of law and order in Hela and within the LNG footprints in the highlands, including parts of the Okuk Highway.
With the petroleum authority the government will have no control.
PNG will be a banana republic sooner than we think. We must not live in the sky and on the moon. Reality is knocking on our door. Are we seeing the signs of the times? Our big dream of LNG bonanza to fund our national Budget is what it is – only a dream.
TANK ON GAS