BSP Welcomes Forex Relief By PNG Government BSP Financial Group Limited (BSP) has welcomed the foreign exchange (FX) relief of
BSP Welcomes Forex Relief By PNG Government
BSP Financial Group Limited (BSP) has welcomed the foreign exchange (FX) relief of K350million from the Government and Bank of Papua New Guinea (BPNG) to the market.
BSP Acting CEO Ronesh Dayal in an interview with FM100/Hot97FM News said the additional support with the intervention in the market from the government and BPNG will ease the current forex shortage faced in the country.
Mr. Dayal says, the commencement of large projects such as the Pasca Gas Project, Wafi-Golpu project and especially the re-opening of Pogera mine, these projects will contribute to an influx of forex.
Mr. Dayal strongly calls on the government to conclude any underlying issues and to re-open the mine as this will contribute to the influx of forex meeting the outflow demands that will strike a balance.
He adds that the re-opening of Pogera Mine must be accelerated as it is a key contributor to the foreign exchange thus will stimulate the economy.
FM 100 / PNGfacts
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