Abel stresses need for tough Govt action to counter dip in economy

National

TREASURER Charles Abel says the tough economic environment underlines the need for the Government to take tough and urgent action.
Among the actions to be taken is a physical audit of the government payroll starting with teachers and all public servants to comply with the National Identity registration by December.
Abel said the Government was committed to fully implementing these adjustments “to restore a prudent responsible and sustainable fiscal path for the remainder of the 2017 and beyond”. These include the audit into the government office rentals.
The use of the PNG Government Accounting System for personnel emolument payments will be stopped.
Abel said part of the plan was to emphasize on the remittance to consolidate revenue of 90 per cent of revenue collected by non-tax agencies
He said the physical and policy adjustments and actions are necessary to secure macro-economic stability and a sustainable fiscal trajectory over the medium team.
“This is a more responsible and prudent approach to what are global shocks will underpin improved domestic and international market sentiment,” the treasurer said.
“The message is clear: We have to live within our means and continue to build the structures that will enable us to weather storms more effectively than we have grown the economy sustainably and empower our people.”

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