PM pledges help to small businesses

By HELEN TARAWA
THE Government will help small to medium enterprises (SMEs) who have been serving the State to keep them afloat, Prime Minister James Marape says.
He explained that this was part of the economic stimulus package that the Government had announced.
“The Government is also looking at clearing service providers to Government, those who have services or giving services to the Government, so local SMEs who served the Government can be given financial assistance in these trying times to remain afloat,” he said
“We hope to extend that or work with them to ensure that burdens are lightened and hopefully the funding that we are partnering with the banks will enable businesses to go back to them and either get bridging financing for them to keep them afloat or recapitalise their business for them to go the next mile.”
Marape said the Government was looking at giving out road contracts on projects improvement programmes to small to medium and large contacts and other contracts of business in the country.
“This is so that in that way, they are engaging people and employing them and we maintain some form of economic life,” he said.
“The Government is looking at various tools, lending tools with the banks, that’s why central bank has dropped the kina facility rate.”