Bougainville PNG News:Bougainville demands PNG pay up $US143 million

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The re-elected President of Bougainville, John Momis, says the Papua New Guinea government owes the region more than $US143 million dollars in development grants.

Mr Momis, who was inaugurated on Monday after last month’s election, says the money is due under the Bougainville Peace Agreement. Read his full speech here

Radio NZ is quoting our New Dawn website reports Mr Momis as saying he wants to meet with the national government as soon as possible to settle this issue.

By Aloysius Laukai

The ABG President Chief DR. JOHN MOMIS says that the National Government owes Bougainville over FOUR HUNDRED MILLION KINA in errors for Development Grants as stipulated under the Bougainville Peace Agreement.

Speaking at the Inauguration ceremony, DR. MOMIS said that he would like to meet with the National Government as soon as possible to settle this issue.

DR. MOMIS said that since 2011, the National Government has been giving ONE HUNDRED MILLION KINA annually but these are tied grants which the ABG has no power to spend according to its priorities.

He said if the Development Grants are paid then the ABG would be in a better position to implement its plans to fast tract development programs on Bougainville.

DR. MOMIS said that the ABG in the next five years will try to move into fast-tracking economic activities to raise its internal revenue base which has now reached 30 MILLION KINA.

He says since 2011 Port Moresby has been giving Bougainville about $US36 million dollars a year but he says these are tied grants which the ABG has no power to spend according to its priorities.

He said once the development grants are paid the ABG would be in a better position to implement its plans to fast track development programmes on Bougainville.

Mr Momis says over the next five years the ABG will try to fast-track economic activities to raise its internal revenue base.

At the moment that base is just under $US11 million dollars.

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