PAPUA New Guinea Fishing Industry Association president and chairman Sylvester Pokajam says there has been lack of investment in the fisheries sector over the last six years.
Pokajam said this during an interview with The National on the progress of the fisheries sector in the country, which includes both fishing and processing. Papua New Guinea Opposition leader Belden Namah has expressed concerns on the escalating law and order issues that are hurting citizens and foreign investment. Mr Namah said the outlook is not good in the medium-term as unemployment will continue to grow because of political instability and uncertainty of some major resource projects that are due to come on stream. “Over the weekend, there were another three deaths reported in Madang under violent circumstances.” Papua New Guinea ECONOMIC conditions in the past six months had been difficult and is expected to continue into the next 12 months, according to Bank South Pacific chief executive officer Robin Fleming. He said yesterday this was despite some of the “positive announcements” regarding the Papua LNG and P’nyang gas projects. “We certainly have a sense that it will continue notwithstanding some of the positive announcements with Papua LNG and anticipated positive announcement with P’nyang by the end of next month,” he said. Former prime minister Peter O’Neill has warned that ongoing closure of resource projects will lead to national economic collapse. Mr O’Neill said yesterday that there was urgent need for dialogue with business communities. “I am very concerned at the ongoing closure of current resource projects and the turning away of investments that should already be underway today and in the years ahead,” he said. “The closure of more resource projects and the delay of others are costing many jobs, making foreign exchange harder for business to obtain and worsening the law and order situation around the country.” The Marape Steven Government is repositioning all government policies and laws towards ensuring Papua New Guinea becomes economically independent. For what good is political independence if we aren’t economically strong.
Our citizens must have money and be self sufficient and self sustaining , our provinces and Bougainville must be financial strong, our National Government must have the resource envelope to ensure we not borrowers or beggars; this is what I mean by economically independent. In a country that is so richly endowed with Natural resources, how comes poverty is prevalent, how comes borrowing from loans and financial plus technical grants continues to be the modus operandi to fill in the revenue gaps to support our country’s development needs? National Alliance party leader Patrick Pruaitch has supported efforts by Prime Minister James Marape and PNG Treasurer Ian Ling-Stuckey to get a clear picture of current economic problems, before charting new policy directions. “While I would have preferred some initiatives to have been undertaken sooner it is more important that new policies are sound and well thought through,” he said.
Mr Pruaitch recently joined government from his position as opposition leader. He has been the country’s longest serving Treasurer under the former NA government, led by Sir Michael Somare, and under the O’Neill government. |
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