Papua New Guinea PLANNING minister Richard Maru announced yesterday that Prime Minister Peter O’Neill is expected to sign the $US168million that will go towards the Pacific marine industrial zone later in April when they visit Beijing, China.
Maru in a press conference said cabinet had already done its part and it was now up to the treasury and Chinese governments to make sure the instruments were ready at the time PM O’Neill and himself travel to Beijing to attend the One Belt One Road Initiative global summit.
“The NEC has already approved the loan and terms of the loan from the China exim bank and I have written to the treasurer to get him to send a team to China to finalise the loan documents in line with the terms that the NEC has already approved and also by the China exim bank,” Mr Maru said.
“And on the 24th to the 25th of April next month, the prime minister and myself will be in Beijing for the One Belt, One Road Global Forum. During that forum we want the Prime Minister to sign the loan agreement so that we can fund the project and implement the PMIZ.
On the part of NEC we have done everything, it is only between the minister for treasury and China,” he said.
“We only have three or four weeks and we need to get this going.
Everything is done by our government in terms of approvals so if you talk to the Chinese government and Treasury,
I have written to them to request a trip to Beijing and I am sure if the instruments are signed, the Honorable governor will be happy and will be there to witness the signing,” he said.
“It is now up to treasury to do the paper work and yes we are looking at April 24th or 25th when prime minister and I visit for him to sign the $US168million exim bank loan so that once this is done, we can then implement the PMIZ under full control of the good Madang governor,” he said.
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Maru in a press conference said cabinet had already done its part and it was now up to the treasury and Chinese governments to make sure the instruments were ready at the time PM O’Neill and himself travel to Beijing to attend the One Belt One Road Initiative global summit.
“The NEC has already approved the loan and terms of the loan from the China exim bank and I have written to the treasurer to get him to send a team to China to finalise the loan documents in line with the terms that the NEC has already approved and also by the China exim bank,” Mr Maru said.
“And on the 24th to the 25th of April next month, the prime minister and myself will be in Beijing for the One Belt, One Road Global Forum. During that forum we want the Prime Minister to sign the loan agreement so that we can fund the project and implement the PMIZ.
On the part of NEC we have done everything, it is only between the minister for treasury and China,” he said.
“We only have three or four weeks and we need to get this going.
Everything is done by our government in terms of approvals so if you talk to the Chinese government and Treasury,
I have written to them to request a trip to Beijing and I am sure if the instruments are signed, the Honorable governor will be happy and will be there to witness the signing,” he said.
“It is now up to treasury to do the paper work and yes we are looking at April 24th or 25th when prime minister and I visit for him to sign the $US168million exim bank loan so that once this is done, we can then implement the PMIZ under full control of the good Madang governor,” he said.
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