Supplementary budget first agenda of new Parliament: Polye

A supplementary budget will be introduced in the first Parliament sitting after the National Elections if Triumph Heritage Empowerment (THE) party forms government.

Opposition leader and THE party Parliamentary leader, Don Polye said the supplementary budget will give more prominence to agriculture, tourism and human development.

Polye, who has been on the road campaigning for THE Party endorsed candidates nationwide, was speaking on Wednesday at Lucas Waka Primary School in Talasea LLG, West New Britain Province.

He outlined his budget strategies to raise much needed revenue to support the agriculture sectors which will come from;

  • Selling off the state's 10.01 per cent share in the Oil Search Limited at K1.5 billion;
  • Implementation of the long-shelved Commission of Inquiry reports, Warrant of Arrest matters, and recoup funds from proceeds of crime in a bid to raise K2 billion and;
  • Public Service Review to save K2 billion. Those entities which will be abolished are Kroton, Petromin, Chief Secretary' position, National Gas and Petroleum Corporation, Kumul Holdings Limited and Department of Personal Management, amongst others.

Polye said the K5.5 billion generated through exercise will be used to diversify the economy, from the extractive industry depended one.  

The Opposition Leader said, the agriculture sectors that will be prioritised from the K5.5 billion are;  

  • Autonomous Region of Bougainville will get K500 million for cocoa and copra, and their stabilisation funds;
  • East New Britain will receive K500 million for cocoa and copra, and their stabilisation fund;
  • K200 million for livestock;
  • K200 for vegetable import substitution;
  • K250 million for oil palm in Markham valley and its price stabilisation fund;
  • Upper and lower Highland regions will get K700 million for coffee;
  • K500 million to revive all the agriculture, vocational and technical colleges in PNG and;
  • K300 million for Oil Palm industry and stabilisation in West New Britain province.

Polye said, Sepik plain, AROB and the New Britain Island had been identified as the most economic viable areas.

Charles Yapumi