State low on money, says MP

THE total Government revenue of K16.2 billion for 2022 cannot even cover the amount of debt repayments the Government has to make this year, according to Deputy Opposition Leader Douglas Tomuriesa.
He has therefore suggested to the Government to postpone the tabling of the 2023 national budget to March next year to allow it time to properly sort out its finances.
“The 2022 budget shows that the K16.2 billion in government revenue for the whole year is still insufficient (to cover) the repayment of government debt due for this year of K16.62 billion (comprising K2.32 billion in interest and K14.3 billion in debt amortisation),” he said.
“Hence the Government has had to resort to more borrowing just to keep the Government system functioning.
“We have to live within our means. And if the country does not have the money, the Government has to be honest and admit it by cutting back on expenditure.”
One way to do that is shelving for a while the multi-million kina Connect PNG programme to save money, he added.
“The Government can start reining in public expenditure by delaying its so-called Connect PNG programme and subject it to proper engineering and economic analysis,” Tomuriesa said.
He was commenting yesterday on the deferral of the tabling of the 2023 National Budget from yesterday to tomorrow as “another example of the Government’s incompetency”.
Treasurer Ian Ling-Stuckey announced late on Monday that he would be tabling the budget tomorrow instead of yesterday as was originally planned.
It is understood to be the second time the Government had to delay the tabling of its 2023 money plan.
He said the national budget was the “most important annual responsibility of the Government” and it had one year to produce it.
“The delay indicates that the Government is very incompetent and indecisive,” Tomuriesa said.
He urged the Government to accept the advice of professional public servants in charge of the production of the budget to avoid a possible collapse of the economy.