Sir Mekere’s great legacy continues

The National Letters
  • PAPUA New Guinea has lost not just a former prime minister, champion of good governance and a committed public servant, but an outstanding statesman this country has ever produced.
    Sir Mekere Morauta was not just a successful reformist but was arguably one of the best thinkers and PNG’s greatest economist in PNG’s history.
    His loss is a huge blow to this nation.
    He fought against corruption since the day he was elected as MP.
    Sir Mekere did so much.
    He had a distinguished career in the public and private sector.
    He was a key figure in shaping of our economy that we enjoy today.
    Under Sir Mekere as prime minister from 1999 to 2002, the country witnessed so much in his leadership, especially his reforms to save the economy when it was on the brink of collapse.
    Sir Mekere looked back with satisfaction in his last budget speech before the election in 2002 on lower interest rates, lower inflation and a more stable currency.
    Under him, PNG’s financial structure was reformed and the independence of the Bank of PNG was restored and reinforced.
    The government withdrew from the banking sector and being a major player in the banking sector through the Papua New Guinea Banking Corporation (PNGBC).
    PNGBC was privatised and is known today as Bank South Pacific (BSP).
    State-owned enterprises were brought together under a holding company called the Independent Public Business Corporation (IPBC).
    Some of his good work included:
  •  MAJOR political reforms aimed at strengthening party formation which created a political stability;
  •  THE Organic Law on the Integrity of Political Parties and Candidates (Olippac); and,
  •  THE electoral system was changed from a “first past the post” system to limited preferential voting.
    The government’s involvement in the natural resources sector was reorganised.
    Previous governments involved themselves more with managing resources through equity participation.
    The Morauta government faced stiff opposition after the first benefits of macro-economic stabilisation were realised and economic reforms were on the table.
    This opposition was primarily directed against austerity and privatisation demanded by the international financial institutions and the Australian government.
    During student protests against the privatisations in 2001, three students were shot dead by the police.
    That was a protest that many who took part in regret to this day as Sir Mekere’s reforms and decisions had a great impact.
    To this day, Sir Mekere is highly respected.
    The long-lasting benefits of the reforms under his leadership are clearly felt.
    Let us not only mourn the death of this great man but let us celebrate the life and contribution of this great leader as well.
    I call on the Government to use its powers to bring back our leader for a state funeral.
    We should declare a public holiday in his memory for all the great things he has done for us.

Ian Serege