Polye tightens up on funding reports

 By GYNNIE KERO

TREASURER Don Polye has announced a major initiative to improve the accountability of government finances through the regular release of funding reports and economic notes.

He said this yesterday after arriving from India where he attended the 46th Asian Development Bank annual meeting in New Delhi.

“Starting immediately the government will publish data showing funds that have been released to government departments and agencies earmarked for the construction of new infrastructure as well as the provision of services to the public. This will occur every three months in PNG’s major newspapers,” he said.

Polye said that economic notes would be released every fortnight.

He added that the expenditure data would be published at the end of each month on the Treasury Department website.

The publication would show funds released to the government departments and agencies in the preceding month. It would have three sections:

l Overall summary by agency type under the recurrent and development budgets;

l Details of personnel emoluments (wages) and Goods and Services by agency under the recurrent and development budgets;

l And funds released by major government priority programmes.

Polye urged the media and people to hold the government and its departments accountable for proper use of public funds.

“People need to be proactive and be able to see in the newspapers on a quarterly basis as well as on the treasury website each month, details of government expenditures and check whether the bridge, school, medical supplies, education subsidy or any other project or service was actually delivered,” he said.

The minister reiterated the government’s commitment in advancing development across the country, particularly its continued efforts to transform the rural economy.

“For the first time, the government has injected huge funds into districts and provinces to realise this transformation.”

PNG and the ADB signed a US$66.8 million loan agreement in New Delhi to help finance the US$82.6 million Port Moresby grid development project.

Polye said the project was much needed as the current power supply to the city was inefficient and costly.