K6.7 billion investment for 2021

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By HELEN TARAWA
TOTAL capital investment for 2021 is K6.713 billion, an increase of K733.91 million which equates to 12 per cent compared to the 2020 appropriation of K5.98 billion, the Government says.
Minister for National Planning and Monitoring Rainbo Paita said this included the Government’s direct financing of K4.06 million, concessional loan funds of K1.638 billion and grants from development partners of K1 billion.
He said the Infrastructure Tax Credit Scheme funding from project developers would complement the budget to deliver key infrastructure projects.
The sectoral distribution of the 2021 Capital Investment Budget includes:

  • Administration sector– K1,484.10 million;
  • Education– K255.73 million;
  • Health – K642.07 million;
  • Community and culture – K50.64 million;
  • Law and justice – K142.34 million;
  • Economic – K427.88 million;
  • Transport – K1,948.94 million;
  • utilities – K365.81 million;
  • Provinces –K1,396.40 million which includes provincial and district services improvement programmes (SIPs) of K1,110 million.

Paita said SIPs budget took up 16.5 per cent of the total capital investment budget appropriation.
He said 2021 national budget was the second full budget of the Marape Government and the second last budget to fund the medium-term development plan 2018-2022 investment priorities.
“The 2021 Budget is underpinned by the prime minister’s broad development agenda of “taking back PNG” and “making PNG the richest black Christian nation by 2030.
“This agenda complements the medium term development plan III policy priorities and strategically aligns to PNG Vision 2050 and sets the parameters around the framing of the 2021 Capital Investment Budget,” he said.
“The Marape Government’s focus is on delivering quality services to the provinces and districts based on the comparative advantages and the economic potentials that each of these provinces and districts have.”

One thought on “K6.7 billion investment for 2021

  • Agreed. As an individual observant of monies budgeted as expenditures for Provinces (SIPs Funding), general economic and utilities funding there should be proper monitoring and implementation. Through out this year, I have observed that monies approved for major projects like roads, electricity, water supply was misappropriated after the project is awarded to successful contractors of procurement process. Poor service delivery by the contractors and also Approved Funding Expenditure Cost (Project AFE) paid through contractors account most used the money to enjoy luxuries, repay loans & bills for their own use. Procurement process coordinators also get their cart from the successful contractors. At the end resulted with uncompleted projects and contractors then submit additional unnecessary claim. Details of project completion time frame from their initial submission were not revisited because responsible monitoring & implementation team do not monitor and investigate progress of project on the ground. Responsible monitoring & implementation team also enjoy luxuries when on the run around and accepts bribery from the contractors during the visits and these resulted in unreliable reports of the projects implementation. This information is for Honorable to Minister Responsible to strict on implementation policies.

    Thanks
    S/Kodang

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