Committee wants policy reviewed

 A GOVERNMENT committee has recommended that the national informal economy policy be reviewed.

The informal economy committee, which comes under the Consultative Implementation and Monitoring Council, met in Port Moresby last week.

Committee chairwoman and acting secretary of the Community Development Department, Anna Solomon, said they were recommending to the council to have the policy (2011-2015) reviewed for the first three years of implementation.

She said information from the review would ensure that the policy was well implemented before 2015 as it was important in driving legislative efforts in developing the informal sector. 

The committee has recommended a budget of K100,000 for the review. 

They asked the council to have a national audit of informal economic activities and incorporation of financial literacy into the overall education curriculum. 

The committee said the audit would provide a clear picture of the informal economy activities (micro-enterprises and products), challenges and opportunities in expanding and enhancing the range of activities to become a vibrant and effective sector. 

The committee has proposed K137,000 for the audit.