Polye said the Government had failed to listen to warnings by economic institutions and individuals, including him, when he called on the Government to do a early supplementary budget.
ment’s doing included:
  • Building semi-standard infrastructure in Port Moresby at excessive contract prices that boosted foreign businesses at the suffering of the local construction industry;
  • deliberately pegging the kina against the US and Australian dollars that led to contracting of the export industry; 
  • failure to do micro-economic reforms, especially in the State-owned enterprises and financial sectors;
  • dismantling of the PNG Sustainable Development that has now led to the closure of the Ok Tedi Mine; and,
  • Loss of fiscal discipline by spending exorbitantly outside the budget. Polye said fiscal and cash flow problems had affected foreign reserves. He said O’Neill needed to come out clear on it’s plan on this