Agriculture the way forward - Tomscoll

The call for the National Government to move away from its income dependability on the petroleum and mining sector is growing louder with the drop of revenue experienced by PNG in the last few years.

The unstable world market price, compounded with declining prices of crude oil and liquefied natural gas are the main factors in government forcasted revenues falling.

Agriculture Minister, Tommy Tomscoll said, "PNG must move quickly back to its traditional renewable export sector.

But in the long term, it is important to diversify export dependence so that the underlying economy is pinned by a strong mixture of diversified exports and strong foreign direct investment.

"Strong agriculture sector can grow a robust and build a resilient economy, construct better communities, promote opportunities and spread wealth."

The agriculture sector contributes 27 percent of the country's gross domestic product which amount to over K2.5 billion in monetary value to the nation's revenue purse.

"But the level of annual investment back into agriculture in real terms is less than K150 million annually," Tomscoll said.

The statistics from the Department of Agriculture and Livestock show the sector supports 6.1 million Papua New Guineans, making up 85 percent of the nation's population.

Author: 
Charles Yapumi