25 Mar 2010

PNG businesses owed millions of kina by Bougainville businesses

9:57 am on 25 March 2010

Several businesses in Bougainville owe major businesses in Papua New Guinea millions of kina, with debts dating back more than five years ago.

The Post Courier reports four major debt collectors from East New Britain, Lae and Port Moresby are in Buka trying to negotiate with clients to immediately sort out their debts incurred five to six years ago.

One of the debt collectors told the newspaper he was in Buka to negotiate with one of the major wholesalers to find a way to settle its bill of more than 200-thousand US dollars incurred four years ago.