Deputy Opposition Leader James Nomane Calls For Urgent Appointment Of Treasurer To Tackle Economic Crisis In Papua New Guinea

Deputy Opposition Leader James Nomane has urged the Prime Minister to appoint a Treasurer promptly to address the economic crisis following Black Wednesday. Nomane criticized the government’s lack of action on business closures, rising unemployment, and security concerns. He called for immediate solutions to economic challenges such as FX shortages, unemployment, and loss of investor confidence. Nomane emphasized the need for effective leadership to steer the country towards prosperity and warned of potential social unrest due to youth unemployment. He challenged the government to provide a clear economic plan within 30 days or resign for incompetence. Read the media release by Hon. James Nomane, MP.

MEDIA RELEASE

Wednesday 13 March 2024

Approved for release – The Deputy Opposition Leader and Member for Chuave Honorable James Nomane, has called for the Prime Minister to appoint a Treasurer immediately.

Mr Nomane said: “I am just dumbfounded that we are talking semantics about the definition of “employment”, instead of focusing on the irreparable loss of business confidence brought about by Black Wednesday. We must get our priorities right.”

Mr Nomane said the Prime Minister was playing politics by holding on to the Treasury Ministry so he can do another “Tkatchenko special”. This is where he fools the public and allows Mr Ling-Stuckey to be Minister assisting the Prime Minister before he will be re-appointed as Treasurer after some time. This is the father of the Richest Black Christian country treating his people contumeliously.

He added: “Businesses have lost confidence. Businesses are shutting down. Papua New Guineans are jobless. The cost of security has doubled because of Black Wednesday. We have not taken any decisive measures with law and order, or the economy, to mitigate the risk of business closure and exodus.

Instead, we have a Prime Minister that is on a spending spree. On the day of Black Wednesday, on January 10, the scam program Connect PNG was receiving over K610 million in funding for arrears. Is law and order priority or Connect PNG?”

Mr Nomane has called for the façade to stop and for the Prime Minister to appoint a Treasurer immediately. Citing chronic economic challenges that include FX shortages, unemployment, a large trade deficit, high inflation at over 5%, and a loss of investor confidence.

Mr Nomane said: “The PNG economy is not a tucker-box. A competent Treasurer must provide the country with an economic solution that will create 100,000 jobs, bring the price of 500g of rice to K2.0 and a 340g of Ox-and-Palm to K5.0, and increase the FX ceiling to US$1 billion per month. If the Prime Minister or his Treasurer can’t achieve this then they should resign for gross incompetence.”

He added: “The Marape manifesto is nothing but hyperbole. There is no vision backed by clear policy or strategy to take the nation into prosperity. Marape does not have the character or skillset to drive the country to economic independence and prosperity. Sir Mekere reformed the country in 3 years with clear vision and temerity captured in his “date with destiny” speech.

Sir Mekere was a legend. His legacy: “Master reformer!”. What is Marape’s legacy after 5 years?”

Mr Nomane gave a strong admonition that the youth bulge in the country is a ticking time-bomb. The lack of jobs and opportunity in society will cause the youth to revolt. The bleak experience was eroding the social contract between national leaders, government, and the people. This issue requires an immediate economic solution.

He added: “We have the forests, we have the ocean, we have the land, we have the resources – yet, we struggle. This paradox of “so rich yet so poor” continues. This is not because of some ailment, or disability – it is simply because of poor leadership and lack of management!”

Mr Nomane added: “The problems facing the economy are complex. This will require critical thinkers, competent managers, and leaders with vision to grapple with the issues and get the country back on track towards prosperity. Our people deserve nothing less than the assurance that their future is guaranteed.”

He added: “As leaders we need to be thinking about the country all the time. Developing policy, solutions, and implementing strategy. I now call on the Treasurer to simply tell the country, without referencing any extractive resource project, what he intends to do in the next 30 days to restore investor confidence, to create employment, and to reduce inflation?”

ENDS

Authorised for release by:

Hon. James Nomane, MP

Deputy Leader of the Opposition

Member for Chuave

Source: PNG Anti-Corruption Movement (PNGACM)