Re: ONLY VILLAGE CONMEN, WAIGANI THIEVES & FOREIGN INVESTORS WANT THESE MINES, LNG PROJECTJuly 6 2010 at 8:53 AM
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Response to Re: ONLY VILLAGE CONMEN, WAIGANI THIEVES & FOREIGN INVESTORS WANT THESE MINES, LNG PROJECT
I dont think its idealistic to view that our people are capable of making informed decisions that will ensure the survival of future generations. Fair enough, what I have discussed is indeed complicated and in most cases, extremely difficult for the average PNGn to fathom. I agree entirely that the people on the ground are not better off. I dont know how to resolve their predicament and I am saddened by these developments. But does this warrant the wholesale shut down of projects?? Well, I think that is idealistic.
Our nation needs to develop and it is a valuable piece of land because it has abundance of resources. Ok, so we havent had effective distribution modaltities and again, I agree with you. Yes our people have suffered and it is cruel to say that its the price of development, but unfortunately it is. Addressing their current state is an option and one I would encourage them to do. Although the modes operandi should perhaps not be as aggressive as what we saw at Jacksons recently.
Its in this light I think the way to go is to push the landcos to go into new directions. Will this new direction promote few elites to prosper at the expense of the poor and vulnerable? No that is not the basis of my discussions. I am advocating that we have to embrace a financial system that has the potential to deliver to our people. This system needs to function independently from the government and must be empowered by PNGns.
I have identified that such a system to retain capital is a stock exchange. By having this mechanism in place, it ensures liquidity in the markets and therefore providing options for investment. I have also made clear that this system will only work if a vibrant regulatory system is in place.
I dont submit that investment options should only be in natural resource projects. These investment options can be channeled into other sectors in tourism, finance, banks, insurance, bio and agri technology, engineering innovations and the list goes on. It is a diversity tool for economic growth and therefore, it is worth pursing.
I for one would prefer such investments been channeled more into knowledge based industries for innovation and the creative sectors. Why, because we do have some of the best brains in the world when it comes to these sectors. PNG markets are saturated and as such expansion is required in our investment climate. Therefore, my point is to reinvest in knowledge based industries. From the music industry to innovation sectors in agriculture, drug discovery and industrial product such as cheaper energy sources e.g. biofuel.
Of course, using the old cliché, money talks and pek pek walks, who are the talkers. It can be the government, it can be the investors but right now there is a category of PNGns who are not the walkers but active talkers. MRDC has developed a critical mass of investors and they seem to be functioning well as their investments are growing. With more landcos coming on board equating to more liquidity, the focus should be to coordinate wise utilization of the wealth.
Yes the terrifying risk is the wealth of the landowners and to be more correct; their lives are in the hands of few men and women. And yes, past and present indications show there is a tendency to squander the wealth. But if there is anything to look forward to , is that our people are progressive and are learning from one another on the need to be vigiliant in this environment. They are drawing from MRDC entities and other PNG companies in partnership and this is where our hope lies. Because it is these entities that have experienced the boom and bust experience and they are imparting on these new landcos.