| Subject: Re:We are still borrowing>>> |
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Date Posted: 15:12:05 07/14/03 Mon
In reply to:
Randa Eplem
's message, "Re:Cut&paste: PNG indebt of K8.2 billion" on 13:49:27 07/14/03 Mon
Guys,hate to realise the fact that we don't have much choices left.For our survival,we had to borrow from overseas helping our debts grow fatter.Look, they are still thinking of borrowing.I hate this bloody thing but it seems gov't doesn't have any choices..
The National paper.
Government confident of securing K140 million ADB loan
THE National Government is confident that the K140 million Asian Development Bank loan will be released by the second week of August.
Prime Minister, Sir Michael Somare said things were looking positive for the government on the privatisation front as well, where its expects to raise K120 million in time for inclusion in the 2004 Budget.
Sir Michael said while this will be K80 million short of the K200 million projected in its 2003 budget as revenue from partial privatisation, revenue collections and dividend payments was up from government projections and would cover the shortfall.
He said a deposit was made last Friday for the Pacific Place building in downtown Port Moresby, while sale of the Revenue Haus next door and the State shares in Hargy Palm Oil should be soon.
Sir Michael was also delighted with the outcome of negotiations with the World Bank last week.
The World Bank has agreed that licences be issued for six new forestry projects instead of the 10 originally proposed by government.
Sir Michael said the Government is improving the economic front with foreign investor confidence on the rise.
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