Prime Minister, Peter O’Neill, has admitted that much of the problems the country is facing is because of our own doings.
The PM said our country is resourceful rich but yet so poor.
He said most agreements that past leaders signed in resources are not favorable to our country.
“Parking all these revenues exports overseas and not bringing foreign exchange back into the country.”
He further added that most decisions allowed for more tax concessions that are favorable to resource companies where they are making billions of kina while we are getting very little from our very own resources.
O’Neill said this Government will be reviewing every agreement signed by previous leaders and governments and try to come up with a favorable decision.
“Our intentions was not to tear up this agreements, but we want a fairer share for our people.”
He said the economy has been stagnant for a while since independence but have changed in the past six years.
He said this government has gone through some challenges but have endured all of them.
The Prime Minister said the Government will continue and deliver to the people despite all these challenges.
O’Neill made these remarks when delivering his key note address at the Consultative Planning Summit in Lae, Morobe Province, recently.