Cabinet approves issuance of K1.92 billion in inscribed stock

The National Executive Council has approved the issuance of up to K1.92 billion in inscribed stock in 2014.

Prime Minister Peter O’Neill said Cabinet in a recent meeting agreed to advise the Governor General to authorise the Treasury Minister to issue up to K1.92 billion in inscribed stock in 2014 in accordance with the Loans Securities Act 1960 (Chapter 134) and aligned it to the debt strategy.

“NEC has also noted the Minister’s decision to implement the 2014 Debt Issuance Program by increasing total government debt by net of K2,355.5 million which includes increasing domestic debt by a net of K1, 707.7 million, and foreign currency loans by a net of K647.8 million,” he said.

“The 2014 Debt Issuance Program is a large financing task, similar to that of 2013. The financing requirement is K2355.5 million and the level of debt projected to GDP is expected to be 35.2 per cent. This level remains consistent with the Medium Term Fiscal Strategy 2013-2017 and the Fiscal Responsibility Act 2006.”

The Department of Treasury has already canvassed the views of domestic investors, and will hold monthly Inscribed Stock auctions on the third  Tuesday of each month starting on January 21.

“Monthly competitive auctions are best-practise as they spread the new borrowings evenly in 2014, and ensure the government borrows funds at the cheapest rate," O'Neill said.

" On a quarterly basis, the Treasury Department will provide an updated schedule to investors in consultation with the Central Bank (BPNG) and investors whereby it will accommodate changes that require smoothening of administrative processes relevant to the issuance and settlement of inscribed stock.”

PNG cricketers still positive after first loss

Radio New Zealand International

Papua New Guinea cricket coach, Peter Anderson, says the team won't be dwelling on their first loss at the World Cup qualifying tournament in New Zealand.
The Barramundi's were thrashed by 130 runs in their latest match against the Netherlands, ending a three game stint in New Plymouth that also brought wins over Kenya and Uganda.
The team now moves to Mount Maunganui for their final group game against Namibia on Thursday and Peter Anderson says it's a new day.
"Sun comes up tomorrow mate so I'm very quick to move on.
" I know people dwell on things and that but we're very positive, we're going forward.
"Our attitude when we come to every tournament is always to go there to win the tournament so we're still focused on one step at a time.
"Every sporting team has a hiccup, no matter how well you play, and those days happen, so the best thing to do is put it behind you.
"So long as we learnt some good things from it. I think we certainly learnt a bit more about their bowling and what we've got to execute with our bowlers".
A win against Namibia will secure PNG's place in the Super Six stage.

Netherlands opener proves star turn against PNG

GLENN MCLEAN

Last updated 05:00 20/01/2014

CHARLOTTE CURD/Fairfax NZ

CLEANED UP: Papua New Guinea opener Tony Ura has his off stump removed during his side's lacklustre run chase against the Netherlands at Pukekura Park.

 

Netherlands opener Eric Szwarczynski took advantage of a last-minute callup to set his side's World Cup qualifying campaign back on track after some indifferent form in their opening two matches of the tournament.
The South African-born Szwarczynski carried his bat through the Netherlands innings, finishing with 129 from 155 balls at New Plymouth's Pukekura Park.
A scratchy seven-wicket win over strugglers Uganda after a 91-run loss to Namibia had left some pundits questioning the strength of the Netherlands side heading into yesterday's match against an unbeaten Papau New Guinea side.
Those questions were answered emphatically yesterday after the Netherlands amassed 323-4 off their 50 overs, although some doubts might still exist after Papau New Guinea fought back from 73-7 to reach 193, thanks almost entirely to a delightful rear guard innings of 96 from No 8 batsman Jack Vare.
The diminutive right-hander was a boundary away from a first one-day 100 before he was bowled, not before helping himself to seven fours and seven sixes, his runs coming from just 59 balls.
His innings almost over-shadowed that of Szwarczynski who only took his place in the Netherlands side after Michael Swart was injured warming up.
The right-hand batsman paced his innings throughout and was happy to play a secondary role at times to team-mates Wesley Barresi (56) and captain Peter Borren (65).
Not that the 30-year-old was unable to lift the scoring rate when afforded the chance, especially in the last 10 overs when the Papua New Guinea bowlers struggled to contain their more experienced opposition.
Too often the Papua New Guinea bowlers struggled with their length, especially under pressure as the score ticked over at an alarming rate.
Szwarczynski's 100 came off 137 balls, while he finished with 16 fours and a solitary six.
It was his first international century, topping his previous high score of 98.
"Our batting lineup is pretty dangerous if we can set a foundation which he [Szwarczynski] did," Borren said. "It was very nice for Eric because he hasn't been in the side. He comes in at the last second, gets a hundred and he batted very well.
"Overall, we would have taken a 130-run win beforehand, although it's a funny feeling walking off after one of their guys has just smoked it everywhere. But we still won by 130, which is good."
Borren himself was particularly punishing in his 35-ball stay at the crease, hitting the rope seven times and going over it on three occasions.
Papua New Guinea, who have been the surprise team of the World Cup qualifying tournament to date after winning both their games, would have thought they were in with a chance of restricting the Netherlands to less than 300 after having them 180-2 after 35 overs.
Their lack of depth at the bowling crease was exposed, however, as the Netherlands took full advantage of having wickets in hand.
Charles Amini was again tidy, bowling his 10 overs of leg spin for 40 runs, taking Borren's wicket in the process.
Papua New Guinea now face Namibia at Mt Maunganui on Thursday, while the Netherlands head to Lincoln to take on Kenya.
- © Fairfax NZ News

Aussies face PNG visa-on-arrival ban

AAP

Speculation is mounting that the government of Papua New Guinea is set to ban visas on arrival for Australians.

The ban, expected to come into force after Prime Minister Peter O'Neill signs off on it, will mean Australian passport holders will need to apply from home before visiting their closest neighbour.
In recent days stories have circulated on PNG social media the nation's National Executive Council, a cabinet-like body, approved the ban when it met last week.
PNG's Tourism Promotion Authority (PNGTPA) was unaware of the impending ban until contacted by AAP on Monday.
However PNGTPA spokesman Colin Taimbari then sought confirmation from the department of immigration.
"They said the withdrawal of the visa for Australians will come into effect when the Prime Minister signs it," he said.
"It will not be in effect until it is signed."
Comment is being sought from PNG's department of immigration and from Mr O'Neill.
Traditionally a 60-day tourism visa can be issued upon arrival in Port Moresby.
When asked if a ban on visa on arrivals will be a blow for PNG's struggling tourism industry, Mr Taimbari said "definitely", but declined to comment further.
When contacted by AAP on Monday, both PNG's high commission in Canberra and the consulate in Brisbane said there had been no official word from Port Moresby.
"We have heard the rumours too, but we have been told nothing official yet," a spokesperson from the High Commission said.
"Until then it's business as usual."
PNG already has visa-on-arrival bans for all African countries, all Middle Eastern countries and all Caribbean island states.
It also bans visas on arrival for Chinese, Vietnamese, Indian and Russian nationals, among others.
In November 2013 it was reported Mr O'Neill threatened withdraw visas-on-arrival arrangements with Australia unless Australia reciprocated.
"This visa on arrival business for all Australians will be withdrawn by the following year if we don't get a similar arrangement with them," Mr O'Neill told the ABC.

Security guards block PNG police from issuing warrant for opposition leader

ABC

Papua New Guinea's opposition leader, Belden Namah, has confirmed security guards blocked police from entering his home to issue a warrant for his arrest.

Mr Namah says a verbal exchange took place when a group of officers turned up at his house and eventually left.

Photo: Papua New Guinea opposition leader Belden Namah. (AFP: Auri Eva, file photo)

Mr Namah has told Pacific Beat he hasn't committed any crime.
"I don't know what crime I have committed for [the] police commissioner to issue such an order," he said.
"So for me there is no cause for concern.
"I have not committed any offence, I have not committed any form of crime."

Audio: Liam Cochrane speaks to PNG opposition leader Belden Namah (ABC News)

PNG's police commissioner, Toami Kulunga, had ordered Mr Namah's arrest over alleged threats, after Mr Namah said in a letter he would take "unprecedented measures" if four suspended policemen were not reinstated.
The police officers were suspended for their involvement in issuing a warrant against Prime Minister Peter O'Neill.
Mr Namah says the "unprecedented measures" referred to an attempt to have the commissioner charged for perverting the course of justice, and denies there was any implications of a coup-threat
"I don't have an army - what sort of coup are we talking about?" he said.
"Let me make it very clear to also the international community, that has been the message that Peter O'Neill has been driving, basically trying to say that Mr Namah is trying to overthrow a legitimate government.
"I have no intention of trying to overthrow a legitimate government."
A media release from police said they were "fed up with the tantrums of the opposition leader" and described him as an "erratic man".

Slow start for Kairuku-Hiri by-election

By MALUM NALU

Voting for the Kairuku-Hiri by-election in Central got off to a slow start on Saturday with many people complaining of their names not being on the common roll.

The National visited polling stations at Doa Rubber Plantation along the Hiritano Highway and Eboa village in Mekeo to witness polling.

Voters checking their names at Eboa.-Pictues by MALUMNALU

A woman receiving her voting ticket at Eboa.

Malo (second from left) and Tonari leading the protest at Doa.

A man checking his name in the electoral roll at Doa.

A woman casting her vote at Eboa village in Mekeo on Saturday.

At Doa, plantation workers many of whom have worked there for many years, were disappointed to find their names missing.

Don Malo, a Southern Highlands plantation assistant manager who has worked at Doa for the last 25 years, led the protest.

“Some of us have more than 25-30 years and our names are not there,” he said.

“I’m no longer a Southern Highlander but a Central man.

“Why?

“That’s the problem.

“Our names are not on.

“Last year, some of us voted, some of us didn’t vote.

“In this plantation, there are 6,000-7,000 people living here, but the common roll won’t reach 1,000.

Goilala planation labourer, Joe Tonari, concurred with Malo.

 “We Goilalas have been here for a long time and don’t have our names on the common roll, which is very funny.”

East Kairuku local level government presiding officer, Oa Ure, admitted that there was a major problem on the common roll.

 “We have a problem,” he said.

“Most of them (voters) are not on the common roll.

“There are supposed to be more than 6,000 eligible voters but they only recorded 1,300, so it’s a problem with the voters now.

“We’re hoping that the Electoral Commission or the district LLGs come good with the electoral rolls.

“We started off on a very low profile because we had scrutineer problems.

“The candidates’ scrutineers were not here until 8.30am.

“The voters are not interested like normal general elections.

“Most of these ones are plantation workers.”

At Eboa, presiding officer Henry Vuvuno said there were no major problems.

“Voting is going well,” he said.

“People are coming in and voting.

“The only problem is that people want to witness others voting, however, we’re stopping that.

“They should not witness voting.

“People should move away from the polling booths.

“We have 873 people on the ward roll here at Eboa.”

Husband’s ring returned to widow 70 years after his death in World War II PNG

By Joel Landau / NEW YORK DAILY NEWS

Betty McAleenan, 94, gave her husband, Staff Sgt. Robert Greebull, her class ring before he deployed. Greebull's plane wrecked in Papua New Guinea during World War II and the aircraft was discovered 30 years ago. The beloved memento was finally returned Sunday in Wyoming.

Betty McAleenan, 94, gave her husband Robert Greebull a ring when he left for deployment in World War II. Robert was killed on his 39th mission and the wreckage was recently discovered. She has now been reunited with the ring.

Seventy years after the death of her husband in World War II, Betty McAleenan has something familiar to remember her husband.
The 94-year-old Wyoming resident gave Staff Sgt. Robert Greebull her high school class ring when he deployed — and it has finally been returned. Greebull, a bomber gunner with the U.S. Army Air Corps, performed 38 successful missions but died on the 39th when his plane crashed over Papua New Guinea, according to TV Station KWOW.

Betty McAleenan is presented with her husband's ring on Sunday in Cheyenne, Wyo.

The wreckage from the plane was discovered 30 years ago, but McAleenan was reunited with the ring she gave her beloved on Sunday, reported TV Station WDAF.

The U.S. government continues to search for wreckage of lost planes in the South Pacific.

Staff Sgt. Robert Greebull died when his plane went down in the South Pacific. It took decades for this one piece of him to be returned.

The U.S. Naval Research Laboratory led a team of scientists and engineers last month to use radar to find planes unaccounted for in Papua New Guinea. The team is searching in heavily forested areas to find the aircraft.
But for McAleenan, it is about finding closure after losing her love. The widow cried as she opened the box and remembered her husband's heroics.

"I gave it to him so that way we could be together," she said through tears.
 
jlandau@nydailynews.com Follow on Twitter @joelzlandau

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