House to debate on supplementary budget

By HELEN TARAWA
TREASURER Ian Ling-Stuckey is expected to table a Supplementary budget this week to address the impact of the Covid-19 pandemic on the economy and the lives of people.
Ling-Stuckey told The National that he would also be tabling on Wednesday the Mid-Year Economic and Fiscal Outlook (MYEFO) report which was due in July.
The Government last week put the total cost of its Covid-19 plan at K1.138 billion, with “clinical management” costing K960 million.
Ling-Stuckey said he would also table the amendment bill to the Superannuation Act to enable workers who have lost their jobs or were on reduced pay to access their retirement savings kept in their superannuation funds.
Cabinet recently agreed that the amendment be made not only during the Covid-19 period but also during natural disasters.
The amendment will be on Section 90 of the legislation which restricts early withdrawals of retirement savings.
Meanwhile People’s National Congress Party leader Peter O’Neill urged the Government to meet legal requirements under the Fiscal Responsibility Act so that the current state of the economy is clear.
He said the MYEFO report due in July must be tabled in Parliament.
“Then we can have a clear picture of the economy, the extent of the damage, and (how) billions of kina in borrowed funds can be recovered and re-prioritised,” he said.
“Get the resources sector working by concluding the many agreements on the Papua LNG, P’ynang, and Wafi-Golpu, immediately re-open the Porgera mine, and get Ok Tedi back in business,” he said.
O’Neill said the Internal Revenue Commission should be strengthened in collecting overdue taxes, provide taxation relief to get businesses moving and bring back investment to stimulate the economy.