PM: SME will get K200m each year

 By SHIRLEY MAULUDU

THE Government will be committing K200 million every year, starting this year, towards the development of small to medium enterprises projects in the country, Prime Minister Peter O’Neill says. 

He launched the SME policy and master plan last Thursday in Port Moresby. 

But he said the initiatives to developing the SME sector had always been there through funding allocation through the District Service Improvement Programme.   

“Every year, we give K10 million for DSIPs – K1m is for economic activities in the districts,” he said. 

“Money has been put into the development of economic sectors in the districts but has been spread too thinly that it is not impacting,” O’Neill said. 

He said developing and strengthening the SME sector was equal to the Government’s commitment towards the free education policy, free health care, investments in infrastructure and other government policies.

O’Neill mentioned his early involvement in SMEs.

“I know many of us live and work in Port Moresby take it for granted. Running a business is not easy. Sacrifices have to be made,” he said. 

“When you are buying Papua New Guinean produce, you are feeding Papua New Guinean families – simple as that. 

“When you go to the shops and buy imports, you are feeding somebody else.

“So don’t make excuses. Start thinking country, start thinking local. Start thinking about supporting your local SMEs. 

“We are building infrastructure and making communications accessible to people. We are addressing power generation issues in the country.

“These are services that are created to make sure Papua New Guineans have businesses.”