PM refutes claims on Apec spending

PRIME Minister Peter O’Neill has told Parliament that the Government is not spending money to impress anyone in its preparations for the Asia-Pacific Economic Cooperation (Apec) leaders’ summit.
O’Neill refuted claims and misconception of “king tide investments” adding that PNG was cost conscious and was spending within the budget.
He was responding to Moresby North-West MP Sir Mekere Morauta on the future benefits of Apec and cost of infrastructure development currently underway in the capital city.
O’Neill’s response stirred Opposition members, and a war of words interrupted the proceeding.
Sir Mekere, East Sepik Governor Allan Bird, Madang MP Bryan Kramer, Aitape Lumi MP and Opposition Leader Patrick Pruaitch raised points of order, calling on O’Neill to answer the questions and not deviate.
O’Neill said PNG had been member of Apec for over 21 years and most member economies had hosted it once or twice.
He said PNG was a very small portion of the 22 economies that controlled over 50 per cent of the global trade and investment out of 200 countries in the world and their GDP was close to over 50 per cent.
“Most of these countries only know PNG by name.
“Nobody said there would be a king-tide of investments coming tomorrow, no government policy has every declared that, no cargo cult mentality being pushed around.
“We are not spending billions of kina, in 2017 we spent less than K200 million, this year we budgeted for K300m but we will come under that.
“We are not here to impress anyone; most of the leaders know the situation that PNG goes through,” O’Neill said.
“We can only spend what we budgeted and approved by this Parliament.
“This will be one of the cheapest hosting of Apec by any economy.”
O’Neill said road infrastructure were being carried out with aid support from the Chinese government and there was no deal attached with it.
He said there were benefits of the Apec meeting through the business leaders who would be in the country.
He said CEOs of the top 500 companies in the world will be in the country to see the opportunities that PNG presents.
“The investment dollar that can be derived out of their engagement and presence in the country is beyond measure,” O’Neill said.
“Our businesses have the opportunity to engage with them to make useful connections that are necessary to have access to their markets.”