Bailout for PNG power Source: PNG Loop The government is - TopicsExpress



          

Bailout for PNG power Source: PNG Loop The government is expected to announce next week that it will be forking out funds to PNG Power limited to keep it operational. PNG Power has been running on a tight budget for almost two years now after the government put a stop to its tariffs. According to PNG Power a shortage in money means that electricity could go off in small towns. This week a request for financial help was sent to the government and PNG Loop understands the request is being reviewed by Treasury. When questioned about PNG Power’s threat of a financial collapse Prime Minister Peter O’Neill responded via text “rubbish”. But he did confirm the financial request from PNG Power. Meantime installation for Port Moresby’s gas turbine generators will be completed by September and a commissioning will also take place then. Installation for the same generator in Lae city will commence soon after.
Posted on: Sat, 23 Aug 2014 07:14:56 +0000

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