+ Tokua
Landowners are threatening to close Tokua Airport because they didn't get a favourable deal from the government. Tokua is the "new" airport that replaced Rabaul after the eruption.
+ Literacy
Lae MP - Bart Philemon says PNG has not done much to improve the literacy rate. In fact PNG has achieved negative literacy rates in recent years.
The Independent Newspaper also had an article this week on literacy in PNG. In the same paper they had an article on Aitape where they used such words as "polemical" and "malfeasance"! This is just what the general population needs!
+ Kokoda
Work on establishing a radio network along the famous Kokoda Trail, to enable villagers and tourists instant communication, has been completed.
+ Port Moresby
Elcom has predicted that Port Moresby will not have enough water for water generation of electricity by November 1998.
It is hoped that the new Kanudi power station will be on line by the end of the year to avoid a power disaster.
+ Independence Day
Prime Minister, Bill Skate, announced that every politician will receive K10,000 to help fund Independence day celebrations. This adds up to K1.09 million! He has also defended his hiring of an economic consultancy package that will cost the country K7 million.
+ VAT
Central Province Governor, Ted Diro, has strongly opposed the proposed introduction of a Value Added Tax saying that it weighs heavily on the low to middle income earners.
+ Education
Professor Waiko has called on the Govt. to allocate 10% of the revenue obtained from gambling for education.
+ PNG Trade fair
The 1998 PNG Made trade fair was launched this week. The 7th fair will, once again, be held at the Sir John Guise Stadium in Port Moresby.
+ Air Niugini
Air Niugini (PX) is trying to trade it's way out of debt by hiring qualified staff. It has announced two new General Managers, one Commercial and one Finance. Rumours are still flying about a possible Qantas takeover with as much as 50% up for grabs. One wonders whether other airlines will be able to bid?
+ Judiciary
Chief Justice Sir Arnold Amet has been accused, in Parliament, of spending to much whilst the judiciary system he heads is in severe financial crisis.
+ Parliament
Chris Haiveta has accused the Govt of using MPs retirement benefit funds to look after Parliament because it had no other money to run the affairs of Parliament.
+ Bougainville
Francis Ona has called for the setting up of a foundation to cater for the special needs of orphaned children not only in Bougainville but also all areas of PNG like Aitape.
+ Interest Rates
FinCorp offer the following rates for deposits from K10,000 to K100,000
- 1 month 18.5%
- 2 months 18.75%
- 3 months 19.0%
- 6 months 21.0%
- 1 year 22.5%
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