Papua New Guinea's opposition leader says the government's mismanagement of the economy will further prevent the country enjoying the benefits of the early phase of the LNG gas project.
Papua New Guinea's opposition leader says the government's mismanagement of the economy will further prevent the country enjoying the benefits of the early phase of the LNG gas project.
The leader of Papua New Guinea's Triumph Heritage and Empowerment party, Don Polye. Photo: RNZI / Johnny Blades
Don Polye's comment comes as prices for gold and copper have dropped by 40 percent and prices for oil are expected to drop to about 50 percent next year.
Mr Polye says the government must adjust to the lower liquefied natural gas and oil prices projected in the 2015 budget to avoid a crisis.
He says although the LNG project is still extremely important, many of the benefits of the project's production phase have probably vanished for a decade.
"The unmanageable levels of debts that the Prime Minister and his government have incurred and the downturn spiralling of the oil prices that will have an effect on the gas price, I believe that we will not feel the positive effects of gas development phase."
Papua New Guinea's opposition leader, Don Polye.
