Mini budget ‘no remedy’ for fiscal malady

FINANCE Minister James Marape says the nation’s financial situation looks depressing even if a supplementary budget tries to address the issues.
“One thing that we have to appreciate is that the country does not have the luxury of funds to implement,” he said.
“Even in the supplementary budget, the fact remains that the country’s needs are far beyond the money we have at any one time.”
Marape revealed this during a meeting with the officers and board members of the Central Supplies and Tenders Board.
“You all know the volume of bids for projects. For example, one road alone costs a minimum of K1.5 million to K2mil per kilometre. If you want to do 100km of roads, that’s K100mil flat,” he said. He said the 30,000km of roads on the national highways needed an overhaul.
He said the need was imperative but the country did not have enough money.
“That is why the tender process we have must ensure that we address the quality for the right contract at the right price and that people get to do the work,” the minister said.