Morobe Province is the second province in the country to present its 2017 Budget of over K400 million to the Government.
Morobe Governor and Chairman of the Budget Committee, Kelly Naru, made the official budget presentation to Treasury Minister, Patrick Pruaitch, in Port Moresby this morning.
The ceremony was witnessed by members of the Morobe Provincial Executive Council.
The Morobe 2017 Budget estimated at K424,413,300 mainly comprises of the; National Grants – K274,027,200; Previous Years Appropriation – K44,233,100; and the Internal Revenue – K106,153,600.
Speaking during the budget presentation, Morobe Governor, Kelly Naru, said there is a huge carryover under the former year’s appropriation from outstanding warrants received without cash from major components of K36.4 million DSIP and K5,538,600 recurrent budget.
He said from this budget, Morobe has utilised huge portion in infrastructure development of core government areas in road construction. Other projects include the Lae Port, and the Nadzab Airport upgrading.
Morobe serves as a vital link to the Highlands, Madang and Morobe Provinces which made up 40 percent of the country’s economy through the agriculture sector.
Treasury Minister, Patrick Pruaitch, commended Morobe Provincial Government by aligning with the framework that treasury has set out under the Public Finance Management, and following a proper consultation process to come up with their budget.
However, he said given the economic downturn, the National Government will depend heavily on agriculture commodities, and Morobe Province is no exception therefore, the government is focusing on funding projects in Morobe that would serves as a vital link for the country’s economic growth.
He added that Wafi Golpu will also stimulate the country’s economy.