Below are two reports from the ABC about the appalling state of Papua New Guinea's public finances

Finances a 'profound national shame

By Liam Fox

A report has described the state of Papua New Guinea's public finances as a "profound national embarrassment" that has robbed people of basic services.



The Public Accounts Committee has only recently been able to hand down a report into the 2007 financial year.



There are no government administered policies, codes or guidelines in PNG related to corporate governance that would encourage companies to develop a corporate culture respectful of human rights. 

That is the conclusion drawn in a review of corporate law and human rights in PNG conducted by international law firm Allens Arthur Robinson on behalf of the United Nations Human Rights Council.

By Lorraine Jonathan, NRI Media Unit

Papua New Guinea's Land Act 1996, provides an avenue for customary landowners to participate in economic development on their customary land. The process by which this is done is lease their customary land to the state in return for the state granting a special agricultural and business lease (SABL) over the land. This lease lease‐back system was designed to enable customary landowners’ access to credit for agricultural ventures on their customary land.

This full page advert appeared in today's Post Courier newspaper in Papua New Guinea.

Post Courier editorial



CORRUPTION ... It is the biggest problem facing Papua New Guinea.


Former top cop and Ombudsman, John Toguata brought the issue up at yesterdays PNG-Australia Business Forum in Madang, not the first time he has done so and nor will this be the last.


By S. Gigi Aupong

Papua New Guinea is unashamedly dancing to the tune of multinational corporations. We are willing to break our own laws to make money for the rich. 

Sir Arnold Amet has a right to be angry at how colonizers tricked us in the past into giving up our resources for nothing. However, he fails to see that the same thing is still happening in PNG, this time through multinational corporations. 

From Little Green Palai

THE Madang Indigenous People's Forum (MIPF) have commended the Acting Prime Minister, Sam Abal, for his move in calling for a Commission of Inquiry into the Special Agriculture and Business Leases.

Speaking through their chairperson, Mr Alfred Kaket, the people said: 

Over 400 landholders have filed a court action challenging the Papua New Guinea government's plan to build the Pacific Marine Industrial Zone on their land north of Madang.

The government plans to borrow $71 million from the Chinese government to build the PMIZ which it hope will attract up to 10 tuna canneries and 30,000 jobs. The PMIZ will be declared PNG's first Special Economic Zone under laws being drafted for PNG by the World Bank.

The International Finance Corporation (IFC), part of the World Bank group, is drafting laws in Papua New Guinea to create Special Economic Zones - tax free enclaves where foreign corporations will receive special incentives to set up factories - but the World Bank's own Independent Evaluation Group (IEG), its internal watchdog, has published an evaluation which finds the IFC is failing in its mission to assist vulnerable communities and alleviate poverty through its projects and investments.