Budgetary Support

PNG provides K20m assistance to Pacific Island countries

another five million kina in humanitarian aid to Tonga and ten million kina in development assistance to the Republic of Vanuatu.

This historic gesture was made during the margins of the 52nd Pacific Islands Forum Leaders Meeting in Rarotonga, Cook Islands where leaders from across the Pacific region convened to discuss shared challenges and opportunities.

Deputy Prime Minister John Rosso while presenting the cheques said the significance of the support to these smaller Pacific Island states cannot be overstated.

Authority gets more strategic in approach

Under the 2017 Budget handed down in November 2016, the Government says the IPA is able to sustain its operations from internally generated revenue and will no longer be receiving budgetary support.

A funding of K2.17 million captured under the IPA is given specifically for the Securities Commission of PNG only.

IPA Acting Managing Director, Clarence Hoot, tells Loop PNG that the decision has prompted them to be more strategic in their approach to delivering their programs.