Papua New Guinea's economic situation is in a "state of survival," according to LAE Biscuit Company Chairman Ian Chow, in a scathing critique of the government's handling of the crisis. Chow's comments come amid rising discontent with the government's economic policies. He challenged the government's rosy portrayal of the economy, stating that "the reality for ordinary Papua New Guineans is far grimmer." He highlighted the two-year timeframe since the election, suggesting a decline since that point. Chow particularly criticized the unequal tax burden, calling it "immoral" that ordinary citizens shoulder a heavier tax load compared to politicians. He urged the public to demand change and hold the government accountable for prioritizing the people's welfare. Painting a picture of widespread financial hardship, Chow revealed that a staggering 70% of Papua New Guineans struggle to save even K100. He attributed this to systemic issues like a lack of government transparency and unresolved grievances. Chow's remarks were triggered by Prime Minister James Marape's recent announcement of support for businesses affected by the January 10th civil unrest. While acknowledging the incident's impact, Chow argued that the unrest stemmed from long-term neglect of marginalized populations. Seeking transparency, Chow called on the Internal Revenue Commission to clarify the implications of the Goods and Services Tax (GST) for companies receiving government aid. He questioned the rationale for full compensation, fearing it could set an unsustainable precedent. While advocating for low-interest loans to support businesses, Chow emphasized the importance of securing proper insurance. He pointed to the challenges faced by businesses and suggested exploring alternative ways to mitigate financial risks. As Papua New Guinea grapples with economic turmoil and social unrest, Chow's impassioned plea underscores the urgency for government action. He calls for immediate intervention to alleviate the suffering of its citizens and guide the nation towards economic stability. Also read Comments are closed.
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