Rapid developments outstripped policies, says tax expert

Developments and changes domestically, regionally and globally have outstripped the country’s policies, governance framework and institutional structures, says the Tax Review Committee chairman Sir Nagora Bogan.

Sir Nagora says our economy has expanded so fast and become more complex, but the most risky feature is that our economy is too dependent on the non-renewable extractive sector.

“We have a small manufacturing base, a tourism base that is shackled by expensive airfares and perception of law and order, a fisheries base that has untapped potential as we have 30% of the world’s tuna but yet collect a pittance in licence fees, a forestry sector that is maligned and exploited with less regard for environmental and inter-generational considerations.”

He said Papua New Guinea cannot continue to operate the way it has been for the last 40 years with its inherent antiquated policies, governance, institutional frameworks, systems and processes.  

“It is time to take a new and visionary approach to nation building.  

“With the 40 years behind us — What is the hope, the promise and dreams for the next 40 years?

“To answer this, we must as a people and country be true to ourselves, take a step back and ask ourselves; Where did we come from? Where are we now? Where we are going? and Why do we need to be in a place different than now? and how and when do we eventually get there?”  

He said a good and honest reflection of that journey may very well be another wake-up call for action and change.

Author: 
Freddy Mou