Saturday, 20 May 2017

O'Neill-Dion Govt went over the limit of borrowing and violated the Fiscal Responsibility Act - NA Party Leader


FORMER Treasurer in the O'Neill-Dion Government and National Alliance Party Leader Patrick Pruaitch has accused this government of bypassing the Fiscal Responsibilities Act, resulting in the country's huge debt level of about K21bn.

Mr Pruaitch says this law was put in place to monitor the government's borrowing habits to a certain extent, but it was never considered by the O’Neill-Dion Government.

He said this when launching the NA's campaign for its candidate for the Nawaeb Open Seat in Morobe province, Timothy Bonga last week.

He further stressed the current debt has risen over a short period of time from K7.7bn to K21bn which is equivalent to K3,000 per citizen to pay.

He accused the current PNC-led government of negligence and not taking the responsibility to act responsibly by considering the Fiscal Responsibility Act.

"Disla law mipela kolim Fiscal Responsibility Act.
"Em i givim level blo dinau mipela inap lo kisim insait lo wanwan yiar.
"Today aninit lo leadership blo Prime Minister O'Neill, aninit lo leadership blo PNC party mipela creatim bikpela dinau tru lo country blo umi," Mr Pruaitch had said.

While the National Alliance party will be touring the nine electorates of Morobe to campaign for its candidates, Prime Minister Peter O'Neill had long maintained that PNG's economy is doing well, and that its borrowings had always been within the Fiscal Responsibility Act.

Prime Minister Peter O'Neill (right), Deputy Prime Minister Leo Dion (with red tie), Treasurer Patrick Pruaitch and another senior Government Minister Dr. Puka Temu (left).
Source: NBC News. 

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