A report produced by ACT NOW PNG reveals corruption is costing PNG billions of kina and destroying the economy.

FM 100 News
 
ACT NOW! is a community advocacy organization that assists ordinary people to make their voices heard in relation to matters of national importance in Papua New Guinea.

The organization released its findings in Moresby yesterday, proposing that the best way for PNG to increase economic growth and boost the economy, is for the government to implement a comprehensive plan to tackle corruption.

ACT NOW Campaign Manager Eddie Tanago says research has shown that corruption is costing PNG billions of kina every year, ruining the economy and impoverishing the nation.

The advocacy organization says if the government is serious about making PNG the richest black nation on earth, it must introduce a raft of reforms to ensure we have an open and transparent government.

On that note, ACT NOW says it welcomes the government’s commitment to establish ICAC but corruption is entrenched and a single institution cannot bring it under control.

It suggested that what is needed is a set of reforms that empower the entire nation to be actively involved in ensuring good governance.

PNG is the most corrupt country in the region and one of the most corrupt in the world, according to the annual Corruption Perception Index published by Transparency International.

In 2018, PNG's score was just 28. In contrast, New Zealand had the second best score in the world, 87, Australia scored 77, Malaysia 47, Solomon Islands 44, Indonesia 38 and Philippines 36.

International accountancy firm, Pricewaterhouse

Cooper has used global economic data to estimate the benefit of a point improvement in CPI scores.

International accountancy firm, Pricewaterhouse Cooper has used global economic data to estimate the benefit of a point improvement in C PI scores.

ACT NOW says the PwC analysis shows that just a one point improvement in PNG's corruption score could boost the economy by K10 billion, which is equivalent to a 14% increase in PNG's GDP or K1 200 for every man, woman and child in the country.

It states if PNG could improve its corruption score by 8 points to match the next worse country in the region, which is the Philippines with a CPI of 36, the country's economy could more than double in size to $45 billion.

ACT Now says corruption puts all sorts of extra costs on to business and makes the economy very inefficient.