Inflation, whether it’s moderate or high is not the point. The current inflation rate has eaten away the parity rate of the Kina so its harder for our people across the country to buy the same basket of goods. -Bire Kimisopa.
Former Member for Goroka, Bire Kimisopa tells Ian LingStuckey to shut up and work - The Current Inflation Rate has Eaten away the Parity Rate of the Kina
By Bire Kimisopa
My good Treasurer, sometimes it would be wise you just shut up and for once listen. Sit your yourself down and ask yourself what are our people buying for the same basket of goods (rice, tin fish, Ox and Palm, 1ltr cooking oil, soap, noodles etc) here in Moresby, lae, Kainantu, Goroka, Kundiawa, and head up all the way to Tari?
Our people may not speak or write English as eloquently as you do. But it's their right and it concerns their lives. Everything is on the line.
Take a moment, and swap places with a villager for one week with 3 of his children and see what's it's like.
You are becoming delusional everytime you speak about the economy and whose economy are you talking about? Ours or some convoluted idea that you seek the endorsement of Moodys, IFM and the whole bunch of know it all, while we languish under the weight of your intellect.
Inflation, whether it's moderate or high is not the point. The current inflation rate has eaten away the parity rate of the Kina so its harder for our people across the country to buy the same basket of goods.
The purchasing power of the kina has shrunk. We are an import dependent nation, nothing is ever truly made here. So, import inflation is a tax on disposal income, and it does not discriminate whether you are a villager, civil servant, or a shop clerk.
It's affects everyone as it continues to distort prices across the country.
Our people cannot save money because 70 to 80 percent of their disposal income is spent on consumption.
"Ol pipol bisi long baim kaikai tasol, na nogat mani long savim." yu lukim or nogat??????
Your intervention of tax relief K580 million in 2022 and the same for 2023 has minimal effect when prices abroad are increasing. We don't control the Australians, or the Chinese cost of production.
We are price takers, period.
We all want to help with our commentary and the last thing we want is to be ostracized by your poison pen.
PNG Think Tank, is a public forum and the gravitational pull is obvious. We all are Papua New Guineans and it doesn't matter whether you sit in Parliament or not. It's important we pull together.