Abel: Dept needs more funds

By BOSORINA ROBBY
MINISTER for Commerce and Industry Charles Abel has expressed disappointment over the budgetary allocation to his department.
But he said he was happy that other divisions in the department received some money.
He said last Friday the amount allocated to the National Development Bank was substantive enough to provide for small businesses loans and other financial help they would need.
“It is disappointing for me as we have a lot of projects under this department to fund but it must have been due to us not providing our acquittals on time,” he said.
The department received K12.67 million compared to K10.04 million in 2011.
Abel said some of their projects that did not get enough or nothing were cooperative societies, the PNG Women in Business, Industrial Centre for Development Corporation and others.
“However, I am happy that the Pacific Marine Industrial Zone (PMIZ) project received almost K10 million, as well as our leather production project and some others got a little money,” he said.
“The budget allocation was not what we wanted. The government could have done more but it should be enough for us to boost the Small Business Development Corporation and our other plans for this year.”
Abel said some of the activities for this year was to concentrate on the projects initiated last year to see the formulation of a National Trade Policy, ensure the National Working group continued to survive, restructure the SBDC for better services to the people and see the Trade Division get a better deal.
“To see that the PMIZ project continues, resolve the US Treaty on fisheries, the casino deal, improve the Investment Promotion Authority with our partners and the Risk Share Facility with the World Bank and IFC.
“So I am only looking to complete what I’ve started as the elections are around the corner,” he said.