ECONOMIC GROWTH DOES NOT MEAN BETTER LIVES FOR ORDINARY PEOPLE
Benny Geteng | Post Courier | October 16, 2018
The Wafi-Golpu project in Morobe province and Papua LNG in Gulf province will help PNG experience a 3 per cent economic growth when productions begin, said Prime Minister Peter O’Neill.
Mr O’Neill said the two projects, when they start producing will boost the economy of the country at a sustainable rate.
“PNG will experience a medium growth of 3 percent. 3 percent is a sustainable growth for a country.
“The Wafi – Golpu mine will be the basis to deliver infrastructure to the province,” he said.
Mr O’Neill said with the Papua LNG Project there is good progress to deliver the project and the negotiation team is at fiscal terms of project signing and closing to pass concessions.
He said the economy is looking bright at a good economic projection of 2- 3 per cent growth.
He also said there will be no fly in fly out for employees of Wafi -Golpu.
Mr O’Neill made this statement last week during the swearing in of the Lae City Authority interim board following a recent strong stance by Morobean parliamentarians who have made it clear they do not want the practice of fly in fly out in the Wafi – Goplu project.
Mr O’Neill said the country will not repeat the same mistakes of the billion dollar LNG Project deal in Hela Province to the new projects and the leaders have now learnt from their mistakes.
“We built an international airport in Hela and that airport is only used once every month,” he said.
He said these are some instances of missed opportunities that the Government will try to avoid in the upcoming mining projects of the country.
The Prime Minister said the new Wafi – Golpu mine is a bankable project for the country to embrace.
The construction phase of the Wafi – Golpu is valued at K5 billion and is set to be one of the biggest revenue earners for Morobe province when gold production starts.