Thursday, September 22, 2011

Polye says education is vital

Source: Home News, Post Courier, September 22,  2011
He said this was because they had worked so hard “without partaking in the benefits of the much trumpeted economic growth and prosperity”.
The second sector to receive the highest allocation is infrastructure with K230.8 million, followed by Health – K109.5 million, contractual obligations K94.5 million, agriculture – K22 million and law and order – K20 million.
During debate Mr Polye defended the allocation to the education sector saying it was not an intended “populist” policy as claimed by critics but the right of children.
“Education is critical if we are to develop a well trained and highly skilled workforce to meet the needs of the modern economy, and so that more Papua New Guineans can enjoy the benefits of employment,” he said.
He said the supplementary budget was balanced due to the projected expenditure equal to the projected revenue.
He also called it responsible, saying it took into consideration the high level of activity in the domestic economy, private sector constrained capacity and volatility of commodity prices.
He warned of the growth of the inflation in line with the strong growth in the domestic economy.
“To avoid very high rates of inflation, coordinated and better management of fiscal and monetary policies are necessary,” Mr Polye said.
“In this regard allocating funds to areas that will not add further fiscal stimulus immediately is considered most appropriate at this time.”
Mr Polye said the budget would use trust fund accounts to pre-fund critical development expenditure programs outlined under the Medium Term Development Plan (MTDP).
He added due to technical delays in the 2011 development budget, implementation of certain projects totalling K116 million had now been re-appropriated into other key areas.
“Unlike the previous government the O’Neill-Namah government will deliver improvements in the rural economy by ensuring funding is allocated to the right areas by being transparent and accountable and by weeding out corruption in the system,” Mr Polye said.
“This is a supplementary budget of hope, for the future families of PNG, for our children.”

1 comment:

  1. Yes

    This is good news for the country. Hope the same happens to Kandep with the same heart and mind.I reckon he should not talk about corruption as he was part of that corruption in the former NA led government.

    ReplyDelete

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