Polye calls for transparent distribution of wealth

There is a need for the government, the mining and the petroleum industries to be transparent in sharing the wealth with the resource owners.

Opposition Leader Don Polye made this call when senior government leaders and mining and industries gathered at the 14th Mining conference in Sydney.

He called on the mining and petroleum companies, the government and other stakeholders to consider two agendas at the three-day PNG Mining and Petroleum Investment conference in Australia.

Polye said whilst discussing the core issues affecting them, they should also advocate on reviewing the Sovereign Wealth Fund and creating sustainable programs using the tax credit schemes for people living in mining and petroleum areas around the country.

“The SWF has been mishandled by the government when it altered the original version under the world best practice Santiago principles.

 “They should also create sustainable programs like tourism, SMEs and agriculture in the mining and petroleum areas so that when the resources are depleted, our people there can turn to these sectors to sustain themselves,” said Polye.

He is calling on them to advocate on the management of the country’s wealth through very sound macro-economic policy of the government.

Author: 
Freddy Mou