O'Neil and Awesa has created a big liability for the country by borrowing this large sum k7 billion. What a crazy decision in the name of infrastructure, just to cover up.
Please PNG must open our eyes and see the adverse consequences of such decisions borrowing just by entirely relying on the income from the PNG LNG Project.
PNG could not live on expectations and false or unsubstantiate or unpredictable assumptions. We must be real.
Just image what would happen to the government annual national budget given the following scenerios occur in the future:
1. The LNG Project is distrubed and become stand still
2. If the five yearly income for the government from the LNG Project can not continuously finance the debt with the agreed interest (bear in mind the interest are paid in millions or could be half a billions.
3. If the kina devalues due to some disastrous or unexpectable situations beyond the control
4. If the oil and gas prices in the work market decreases due to competitive supply of the similar supply of gas and oil.
5. If the PNG government can not invest in any sustainable industries like agriculture, fishing, and other renewable resources.
Papua New Guineans, please bear in mind that we are heading for a disaster after this year national election. Despite whoever, the government is, this K7 billion loan will borrow the share for the future generation of the country and at the same time, the national government budget will have a big debt and the situation will get worse if the current K500 million deficit ballance.
Lets think about it now.