Finance Minister James Marape

US$50m in Trust Fund for Earthquake relief

This was revealed by Finance Minister, James Marape, in Parliament on February 24th.

Marape said the funds would be released for infrastructure projects and related programs.

Following questions by the Southern Highlands Governor, William Powi, and North Fly MP pertaining to the funds earmarked for areas affected by the earthquake, the Finance Minister revealed that more than K150 million was in a Trust Account.

Marape issues warning on ‘over’ claims

He said this practise eats into PSIP and DSIP funds which can be used for service delivery.

Marape said this when responding to Menyamya MP, Thomas Pelika.

Pelika raised concerns that Finance and Treasury officials in his District raised substantial claims that were eating into district funds.

He asked Marape to intervene and remove these officials.

The Finance Minister said he has heard of this practise and used the opportunity to sound a warning.

“Public servants must not be engaged in business,” he stated.

Royalties won’t be touched by Govt: Marape

Finance Minister James Marape said the funds are quarantined under law and as such, will not be touched.

He was responding to Kandrian-Gloucester MP, Joseph Lelang, who asked why the Government has also taken money earmarked as royalties.

In particular, royalty held in Trust with the National Forestry Authority to be paid to head clans of integrated land groups and within the timber concession areas under various timber agreements.

VIDEO: Funds from Stat. Bodies

Finance Minister James Marape has defended the government's move to dip into thousands of accounts belonging to state owned entities and statutory bodies.

Do not receive bribes: Marape

Finance Minister James Marape also called on them to not expect handouts when carrying out their duties.

Marape made the statement during a recent visit to the DIRD.

He said with the Government funnelling money right down to the sub-national government, he wanted to see proper acquittals of the funds to avoid mismanagement.

Marape said he will push for the DIRD to be entrenched into a fully-fledged department as well as have financial powers to disburse and manage discretionary funds such as provincial and district support improvement program funds and grants.

Deadline for acquittals submission given

Finance Minister James Marape announced this during a meeting with the Department of Implementation and Rural Development (DIRD).

Marape said he will push in cabinet to ensure sub-national governments are compliant by providing their acquittals of funds disbursed to them.

Marape, along with his vice and Ambunti-Dreikikir MP, Johnson Wapunai, met DIRD management and staff this week to reinforce the Government’s objectives.

He also sounded a warning to provinces and districts to be compliant in furnishing their acquittals.

Polye denied inciting violence

Polye's denial surfaced, following Finance Minister and Tari-Pori MP, James Marape who alleged that the former minister incited violence.

"I do not incite violence. Had I done so, why would our people of Eastern Highlands have disrupted a PNC party-sponsored rally in Goroka town? Polye questioned.

"There has been an outright public resentment across the country. As such, our people of Hela have rejected Marape and PNC.

“If they have removed and burnt red shirts and caps, issued by PNC party that is it. People have spoken.”

New Customs PNG facility launched at Motukea

Present to officiate the launch was Treasury Minister Patrick Pruaitch and Finance Minister James Marape.

Chief Commissioner for Customs PNG, Ray Paul says the total cost of the examination facility according to the contract cost Customs PNG about K30 million.

Customs PNG has gone into an arrangement with a company where Customs will be leasing the facility on an annual basis to them for the next 10 to 15 years.

“Customs PNG intends to own this after some 10 to 20 years down the line through another understanding with them,” Paul said.

PNG expenditure requires K50 billion

Finance Minister, James Marape, said this today during the Finance Departments announcement of the Public Finance Management Act 2016 in Port Moreby.

Marape told dignitaries and public servants at the event that PNG’s development needs since independence has always exceeded the country’s budget.

“The need of our country has always exceeded the actual fiscal cash we have on hand to run our budget. That is something that everyone of us, including our public commentators must appreciate.

50 percent of DSIP funds to be paid by this month

Minister for Finance James Marape assured in Parliament today that 50 percent of the total allocation of K10 million to all districts and provinces will be paid.

Marape confirmed that the Government has so far paid K3 million each to all provinces and the 89 districts.

Marape was answering to question raised by Member for Kabwum Bob Dadae on whether the PSIP and DSIP funds will be released for the remainder of this year.