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Polye & Flanagan are undermining PNG economy: Lupari

Isaac LupariMEDIA RELEASE | Office of the Prime Minister

PRIME minister Peter O’Neill's chief of staff, Isaac Lupari, has raised concerns at political interference by a former Australian government adviser working with the Leader of the Opposition to undermine the Government.

Ambassador Lupari (pictured) said that, as a close advisor to the former Treasurer Don Polye, recent articles written by Paul Flanagan are more political spin than real analysis and these views are not impartial.

Importantly, Ambassador Lupari said, despite claims by Polye and Flanagan, PNG is largely protected from oil price fluctuation because forward contracts were signed before the recent change in oil prices.

"Their argument is based around the claim that PNG will receive substantially less income from LNG sales and this is simply not true," Ambassador Lupari said.

"PNG LNG exports and prices are predominantly locked into long-term forwards sales contracts. In simple terms this means that Papua New Guinea will receive the same price for LNG.

"Mr Flanagan should know that LNG prices are locked in but he continues to play politics with business perceptions and the Opposition is going along with this nonsense.

"Polye-Flanagan appear to have no conscience when it comes to talking down the economy for their own political self-interest, and do not care of harm this could cause to small business and jobs in PNG.

"Almost every budget in every country in the world is framed around a theory of market fluctuation and expectation that prices will change.

“The 2015 budget is designed according to these economic principles, so the Polye-Flanagan assertion that the 2015 budget is under threat is grossly misleading.

"Analysis and discussion on the economy is always welcome, but motive must be declared.

“Mr Flanagan's agenda is very clear - it is political and unprofessional. If Mr Flanagan was genuine, he could have sought to engage with the government and voice his concerns instead of playing games in the media.

"If the Leader of the Opposition does not understand the subject matter there are a number of truly independent experts who live and work in Papua New Guinea from whom he could seek advice."


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Franklin Konral

I pray for the day when we will have a prime minister who will implement the findings of the Commission of Inquiry on the Department of Finance, which found roughly K780 million embezzled by more than 20 people.

I believe that named amongst them was Isaac Lupari. How dare Isaac Lupari make comment on anything without hanging his head in shame.

Mathias Kin

I believe that Lupari, O'Neill and the Governor of the central bank Bakani are not levelling with us when the claim the proceeds from LNG are kept in a trust account in the bank.

Lupari has also been mentioned in relation to several fraud cases where investigations have been terminated. A new government should re-open investigations.

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