Posted By Staff Reporter
Papua New Guinea TREASURER Ian Ling-Stuckey must tell the nation the country’s true economic status because he is painting a picture so different to the reality of things on the ground, an official says. New Ireland deputy governor Sammy Missen was responding to what Ling-Stuckey told Parliament on Tuesday, that in the context of a tough global environment, with many countries expected to fall into recession, PNG was growing at double the world rate. “PNG is doing better than most because of the good economic policies of the Government,” he said. “Do not believe the lies on social media or from some of those sitting on the other side.” Missen said the reality of the matter was that businesses were closing down, unemployment rate was increasing and the prices of goods and services were sky-rocketing.
“Just recently, one of PNG’s well known biscuit companies, the Lae Biscuit Company, had to close down its factory for two weeks with 700 staff (members) sent home,” he said. “City Pharmacy Limited Group have also indicated a decrease in their cash flow due to the shortage of foreign currency. “In Kavieng town, the prices of goods and services are sky rocketing. A 1kg packet of Roots rice costs K4.80, a packet of 500grams Ramu sugar is K3.50, a packet of Maggie noodles cost K1.30 while Klina soap costs K1.30. “But Ling-Stuckey is singing something different in Parliament.” Missen said everyone knew that the economy was not doing well. “We do not know which Ian is telling the truth,” he said. “Money is not circulating in the economy. As much as the Treasurer likes to talk, unemployment is increasing, inflation is increasing, law and order is out of control. “(Ling-Stuckey) is saying that the economy is on track when the economy is doing badly. “Which Ian should we believe?” Statement Also read Comments are closed.
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