PM: Help on way

By REBECCA KUKU and SAMUEL BARIASI
THE Government is drawing up an economic recovery plan which includes assisting small businesses and supporting people dependent on the informal sector, says Prime Minister James Marape.
The plan is expected to be announced next week after it is approved by Cabinet.
“The Government’s 2020 budget will be used as a tool to ensure that there is life in the economy,” he said.
“We will be moving money out (from Treasury and Finance) to provinces and districts to maintain life in the economy.”
Marape was responding to concerns raised about those facing financial difficulties because of the Covid-19 lockdown and the loss of employment.
He said the economic stimulus package recently announced by the Government would “come in many forms”.
“Something that I am very interested in is to ensure that our small businesses are given a great deal of support,” he said.
He said the Government had arranged with commercial banks to provide “soft loan” facilities for small businesses.
“(By soft loan) I a mean at four per cent (interest) over 15 to 20 years,” he said.
“We will try to bring our economy back to life at the very earliest.”
Marape said the Government would arrange for food to be distributed to people in settlements especially in Port Moresby and Lae.
Cabinet is working on incentives to help small to medium enterprises and those in the informal sector cushion the impacts of covid-19.
“We will be announcing some initiatives for our people in our suburb and settlements who depend on daily markets to survive.”
The Government also plans to repatriate those facing difficulties in urban areas back to their villages.
He said the State of Emergency should end on June 2 although protocols on dealing with the Covid-19 would continue.
It is expected that schools and international flights would be allowed to resume. Students have been provided lessons at home through television and radio broadcast.