PNG in survival mode

By NATHAN WOTI
LAE Biscuit Company Chairman Ian Chow says the country is in survival mode because of the status of the economy, and urges people to pressure the Government into improving it.
“The economy is at rock bottom since the election over two years ago,” he said.
“The leaders talk up the economy and (saying it is a) rosy economy. The reality is totally the opposite – and worse.
“All workers are burdened by taxes – except politicians. Totally immoral in my opinion. They are supposed to serve the nation and the people but have the best perks (same for politicians all over the world).”
Chow said more than 70 per cent of Papua New Guineans had less than K100 to save.
“The banks can probably confirm that the grassroots person will not have more than K100 in their account for more than a fortnight,” Chow added.
Chow was responding to a media statement from Prime Minister James Marape on the support for businesses affected by the Jan 10 civil unrest.
He said it was sad and unfortunate what happened on Jan 10 which resulted in the burning of shops and warehouses. But the oppressed public had exploded due to pressure built up over the years.
He added that unfortunately, the people had been experiencing this trend over the years but few dared to come out and address it, to hold the Government accountable.
Meanwhile, Chow also called on the Internal Revenue Commission to clarify how much Good and Services Tax (GST) would some of the companies to receiving government help pay so that the people would know why such a huge amount of compensation should be paid to them. “The GST is a percentage of your turnover. In my opinion, I think it is wrong for the Government to give full compensation to the burnt shops,” Chow said.
“Riots and civil unrest happen all the time in PNG.
“If they set the precedent, then all future government will be paying out for these unrests.”
But he said he would agree with giving out to them low interest loans.
“All good businesses have insurance. It adds to our overall expenses. But in PNG you will be unwise not to insure. Sometimes insurers refuse to insure or the cost is prohibitive,” Chow said.