Patrick Pruaitch

Is Treasury Minister genuine?

Minister for Tourism, Arts and Culture, Tobias Kulang, told Loop PNG he is disappointed that his colleague Minister spoke against the Government.

Minister Kulang said if Pruaitch had an issue with the management of the economy, he should’ve spoken a long time ago and not on the eve of the elections.

“My question is, is he genuine? If he’s genuine he should’ve done that a long time ago.

“Now it’s just days away from the issuance of the writs so, I don’t know whether he’s truly genuine.

Marape: Don’t shy away for political convenience, Pruaitch

Marape issued a statement saying Patrick Pruaitch must take responsibility, as Treasurer and the chief economic minister of the O’Neill-Dion Government, who presided over the economy for the last few years, and he should not shy away for political convenience.

The Finance Minister  said this in response to the National Alliance Parliamentary Leader's public statement on the economy last Friday.

“The timing of his outburst cannot be more political than it is now as we confront  the 2017 National Elections,” the Minister said.

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No issues with potential backlash: Pruaitch

During a National Alliance Party event in Port Moresby on Friday, Pruiatch said the current economic strategy employed by  the coalition Government led by the Peoples National Congress has resulted in massive debt, a plunging GDP and growth rate, and a debt-to-GDP ratio myth.

NA is a major partner in the coalition Government.

Pruaitch presented these statements, witnessed by members, intending candidates, current members of Parliament, Party executives, NA founder and former Parliamentary leader Grand Chief Sir Michael Somare.

Foreign missions miss 10 fortnights, says Pruaitch

Treasury Minister, Patrick Pruaitch, revealed this and said despite intervention made the backlog is great and possibly too late to stop some dire consequences.

Pruaitch said this during a National Alliance Party event in Port Moresby where he also spoke against the PNC-led coalition government’s economic strategy which he says has resulted in massive debt, a plunging GDP and growth rate, and a debt-to-GDP ratio myth.

Pruaitch spills the beans

National Alliance is a coalition partner in the O’Neill-Dion government.

Speaking at a National Alliance Party event in Port Moresby, Pruaitch highlighted how the current government’s economic strategy has resulted in massive debt, a plunging GDP and growth rate, and a debt-to-GDP ratio myth.

Pruaitch, who is the Parliamentary Party Leader, spoke to members, intending candidates, Members of Parliament, Party executives, including former NA leader Grand Chief Sir Michael Somare.

K223m loan for water roll out programs

Treasury Minister, Patrick Pruaitch, signed the loan agreement today with World Bank PNG Country Manager, Anne Tully, as well as Planning and Monitoring Secretary, Hakaua Harry, and Water PNG Managing Director, Raka Taviri.

PNG Government is also counterpart funding the program with K20 million bringing the total funding to K243 million.

Minister Pruaitch said the signing today was a milestone for both the country and the World Bank and was grateful for the support which he said will support the government’s development plans to improve living standards.

Opposition renewed calls on Government to amend 2017 Budget

Opposition Leader Don Polye in a statement said the alternative government proposes that a harsh taxation regime for housing allowances should be abolished.

He has described the government’s new taxation strategy for housing allowance as desperate and harsh.

“This is what I said in our Budget Reply. Taxation strategy for housing allowance is so harsh at the wrong time.

“It is a desperate action by the government to raise revenue when it has mismanaged the economy and country’s cash flow.

PNG set to exploit potential developments

Treasurer, Patrick Pruaitch when delivering his speech today at the 14th Mining conference in Sydney, Australia echoed these sentiments.

He said as interest rates in advanced countries normalised, global economic conditions will also improve and become more predictable.

He added that the 2017 budgets are highly conservative and do not take into account PNG’s increased economic resilience as well as the remaining potential for major new resource projects.

Government yet to negotiate for construction of P’nyang

Treasurer Patrick Pruaitch said the construction might start in 2018 or 2019.

Speaking at the 14th Mining Conference in Sydney this morning, Pruaitch said: “With the benefit of hindsight, I assure you we would have done things differently if we had known commodity prices were primed to fall. Instead we went for expansionary budgets.”

He said PNG’s total borrowings would have been far less in 2014 and 2015 when the government accounted for almost half the total debt raised during this five-year term.