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Subject: Re: Price protest! by Unitech Students

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Date Posted: Wed, Sep 17 2008, 10:10:14pm
In reply to: Peles-Economist 's message, "Re: Price protest! by Unitech Students" on Wed, Sep 17 2008, 06:12:06pm


Very essential reading of the inflationary economy of Papua New Guinea.

I note that the Government has been retiring its stock of Treasury bills through operating an expansionary fiscal policy regime supported by huge mineral revenue receipts due to higher international mineral prices above budget forecast. The Central Bank has use its central bank bills to absorb excess liquidity in the economy and believe the rates would now be unattractive to an investor.

(a) In the short run/term, the Government can abosrob inflationary growth as you have mentioned in various programmes; subsidize the consumers or the importers or other programmes. Fuel should be subsidize and well as basic food stuffs for a specific period of time.

(b)In the long rum, the real factor is to promote developments in the supply-side economy. The domestic food stuffs can easily substitute some of the imported goods such as rice.

The government should provide consistent and increased support to programmes/projects such as the Wheat Project in Kandep, the Rice Projects in the Coastal Regions and in Highlands Regions.

The government should develop a very efficient and effective transportaton system linking up all the regions of the country. This transportation system will reduce transportation/freight costs and also made available all nutritious food stuffs from the coastal region available in the highlands regions and vice versa. A fresh fish harvested in the coastal region would end up in the dinner plate in the highlands in just three hours.

I note your essential comments and thus stop here.



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