2017 National Budget

Western Governor sentenced to 10 years

http://www.looppng.com/content/western-governor-sentenced-10-years

The National Court at Waigani has sentenced Western Governor Ati Wobiro, former Western Provincial Administrator Dr Modowa Gumoi, and Fly Care Foundation Inc. boss Norman Carl May to 10 years in prison.

Elderly man recovers body of aborted baby in drain

In a media conference today, Abel said the 2017 Budget was presented in the same  new format which may have caused confusion in the Opposition ranks.

He said these following outbursts by the Opposition in Parliament yesterday during the Budget debate, over alleged inaccurate figures contained in the 2017 Budget.

Abel reiterated a statement by Treasurer, Patrick Pruaitch after Parliament ended, saying the budget papers are in order.

According to the Economic and Development Policies of the 2017 National Budget, there are many statutory bodies being set up and operating without a set of investment parameters or guidelines provided by the Government.

This will now be the subject of a review by the Departments of Finance and Treasury, to review all proposals for the creations of statutory bodies to comply with the best monetary benchmarks.

This is in line with the requirements of the approved Dividend Policy, which forms an integral part of Government revenue and contributes significantly to the budget.

The expectation is outlined in the 2017 National Budgets Economic & Development Policies, and states key reforms, one of which is the Dividend Policy, will improve the State’s commercial interests.

The Dividend Policy is one of several policy reforms that promote Government objectives that support the attainment of better returns from SOEs, statutory bodies and equity investments.

He was answering a series of questions about the relevance of DSIP funds after revealing the 2017 National Budget at the press lock-up on Monday.

After savings measures were introduced with declining revenue, all government priority areas experience cuts in the K12.9 billion budget handed down, except the DSIP component.  

But Provincial Service Improvement Program (PSIP) money allocated to provincial government to support their districts got a K10 million slice.

She made this comment during the 2017 National Budget Press Lock-up on Monday when questioned about how her department deals with MPs writing their names on the vehicles, than stating district development grant.

“The purpose of DSIP is to ensure that each sector in the district is brought up to a stage we want to see them, like improvement to education, health, infrastructure and law and justice,” Harry said.     

The Secretary said, it is common for MPs to print their names on vehicles and her department will need to educate MPs that these are public funds.

Polye wants the Government to consider repaying more than K2 billion it owes to them via Nambawan Super Limited.

He says he was informed that some hardworking, retired public servants have died while waiting for the government (employer) to pay what was rightfully theirs.

“The government has betrayed them by withholding the employer’s contribution of 8.4 percent,” he states.

Polye says the superannuation has lost trust and confidence in the government’s Treasury Bills and Inscribes Stocks.

Under the 2017 National Budget, Personal Income Tax is expected to increase by K186.6 million from the 2016 revised projection of K2, 849.1 million (K2.9 billion), after failing to reach budget estimate of the same figure in 2016.

The projection is said to be driven by the following factors:

This is a 0.4 per cent increase from 2016 estimates of 6.6 per cent.

This will see domestic goods and services, medical services and housing prices to remain high.

According to the 2017 National Budget, the projected inflation rise for 2017 is reflective the back of several factors.

They include: the kina depreciation and slight pick-up in domestic economic activity relating to the National Elections, minor improvements in commodity prices, and construction of APEC facilities which are expected to boost income and spending.

That’s according to Secretary for the Department of Treasury, Dairi Vele, during the 2017 National Budget Press Lock Up at Parliament House.

Vele referred to a ‘Cash In/Cash Out’ equation stating the projected revenue of K11, 088.9 million and an expenditure plan of K12,623.3  million resulted in a budget deficit of K1.876.5 million (K1.9 billion)

The budget deficit equates to 2.5 per cent GDP, while the total Government debt of K21, 623.3 million (K21.6 billion), equates to 28.8 per cent of GDP.