BY MELISHA YAFOI
Thousands of Police and State Savings and Loan Society Limited members have been left high and dry after the society was declared insolvent by the Bank of Papua New Guinea.
The society has been declared insolvent since May 2017 following a notice by the Central Bank of PNG advising members, service providers and stakeholders of the society that the Bank has taken control of its administration.
This will place the lives of the thousand members at risk to access savings as well as applying for loans.
A member Sergeant Paul Simon told Post-Courier that now that the office was closed it was difficult for them to access savings to pay for their childrens school fees.
Mr Simon said that as a parent this period is one of t…
Read the full article at: https://postcourier.com.pg/police-savings-declared-insolvent/
