Treasurer: No rollover commitments to next year

By HELEN TARAWA
THERE will not be any rollover of 2018 commitments to the 2019 budget once the accounts close on Friday, says Treasurer and Deputy Prime Minister Charles Abel.
Abel said the Government would ensure that the 2018 budget was as complete as reasonably possible given the circumstances.
“The completion of the previous budget is a critical to the execution of the next budget,” he said.
He said they had faced issues in the past because “we tend to roll over some of the commitments to the next budget”.
“That can leave a hole in the beginning of the year trying to complete all the commitments from previous years,” Abel said.
“We expect 2019 to be an improved year and it will translate through into timely payment of bills. From (now) until the closure of the accounts is the time where commitments are possible.”
Chief Secretary Isaac Lupari said there were carry-overs in the past which impacted significantly on the financing of the new year.
“We want to avoid the issues confronted in the past and make sure that the 2018 budget is closed. We want to have a good year in 2019.”
He said a team was working on the process with the “guidance of Treasurer, Minister for Finance and Prime Minister”.
“It’s a big task ahead but we are committed to it and we are meeting regularly on a weekly basis to keep updating the PM. 2019 is going to be another challenging year,” Lupari said.
Finance Secretary Dr Ken Ngangan said “everything will close including the Integrated Finance Management System and PNG Government Accounting System” on Friday.