2017 Budget

Treasurer Patrick Pruaitch, when delivering his 2017 Budget speech in Parliament yesterday, said an independent firm has been engaged to carry out a comprehensive executive search in the domestic and international labour market. This is to identify and recommend suitable candidates for appointment as chairman and members of the PNGSWF board.

This is an increase of 1.1 per cent from the 2016 Supplementary Budget.

The sector allocation comprises of K2,203.5 million operational expenditure and K1,428.1 million capital expenditure.

The total Provincial budget also consist of K463.2 million Goods and Services Tax and Bookmakers Turnover Tax.

The operational expenditure consists of K1,512.3 million Personnel Emoluments and K591.3 million Goods and Services.

The Government has imposed  this tax burden to encourage people to be mindful of their health and take ownership of their lifestyle.

Treasurer Patrick Pruaitch when presenting the 2017 Budget in Parliament today said the consumption of alcohol and tobacco has associated social implications which the Government continues to face through increased funding for law and order, manpower, free primary health care, social awareness and education.

More so, he said the consumption of such goods contributes to poverty and wasteful expenditure.

This comprise of K9,182.2 million in tax revenue, K1,045.3 million in grants and K1,245.7 million from other sources of revenue.

Pruaitch, when announcing the 2017 Budget in a Budget Lock-up session today said the Budget has been framed in a way that will still prioritise the key government areas which include the education and health sector.