Our resources should benefit our people

Letters

Good economists, accountants, lawyers, good-thinking persons and good leaders of any kind will sit down and think ahead and plan the future of his or her life and family and then make the decision and start to act to see the fruits of his or her decision and hard work.
Papua New Guinea was first discovered in 1523 by a pearl finder, who describe the island as the island of precious gold, floating in the sea of oil, with burning flames of natural gas valued in trillions to be developed.
This ancient pearl valuer, valued our natural resources well before it was legally claimed and extracted since 17/18/1900s to date under certain resource laws.
My rough assessment of all our resources since the first discovery in 1523 was around K900,555,900,111,900.99 face value or more.
If we look closely, we would say, this is the real value our country should hold and benefit from.
Since the time of our colonial masters, certain laws came into play and extraction of our resources, for whoever’s benefit, is something that must be seriously addressed to keep the balance of our resources and their monetary value to benefit us.
I felt so sad, and, at the same time, angry to see the front page of the other daily that the State will hold 30 per cent and the so-called investor will hold 70 per cent.
This report underestimated our chance to prosper from our own gold resource.
This is not right, there is truly something wrong somewhere.
I strongly believe that, the State must hold 70 per cent and the developer have 30 per cent.
If the State does not have the money to develop this valuable business for the country, than find naturalised citizens to develop the business and keep and increase the value and bring money into the country instead of sending the products and money abroad.
We have given enough of our resources to foreign companies.
We have to change laws so our resources benefit our citizens.
This media report does not help our economy, therefore, I am calling on all like-minded people in power to see and save our resources, so our own citizens must be the major players in this industry.

Christopher W Taweg

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