East Sepik presents K261m budget

Treasurer Patrick Pruaitch receiving budget documents from ESP Governor Michael Somare as district MPs from the province look on.

By MATTHEW VARI

Sunday, January 29, 2017 (Sunday Chronicle, PNG)

 

TREASURY Minister, Patrick Pruaitch, received the K261 million 2017 budget of the East Sepik province.

Presenting the budget to the treasurer for the last time as Governor and a politician, Sir Michael Somare, outlined several financial difficulties facing his province from PSIP allocation shortfalls to special government allocation in 2013 that were subjects of concern.

“I want to present to you our last budget. This is 2017 we were supposed to present to you earlier. I was going to ask you a question on our PSIP and the others because PSIP makes the component of our budget in the province, we tried where we could to readjust and where we could not spend the money we brought the money back,” Sir Michael said.

“Internal revenue is K13 million we raised it within the province itself and out of that we were given K7 million. It was not big but at least we raised some money ourselves.”

Receiving the budget documents, Mr Pruaitch thanked the provincial government team and the governor and assured them of treasury’s scrutiny of their money plan.

“Sir Michael we will go through the budget and give the approval for the provincial team to commence spending of the funds for this year.”

“I note your concern insofar as raising an issue about special funding from 2013 budget to a member of parliament from the province and the fact that it has not been spent on what it was intended for. Like you know it is subject of an expenditure requirement report has to be put into treasury because it is money from the budget.”

“On the issue of shortfall in PSIP and DSIP. I think in the DSIP fund most districts have received their DSIP from end of last year. I think you will have K5 to K7 million shortfall in East Sepik in the PSIP funding. We will make sure that you receive that funding in the first quarter of this year,” the treasurer said.

Pruatich added that given the cash flow situation from 2016, they were unable to complete PSIP funds.

“Most provincial governments still have outstanding from last year and we are working to make sure that funding is made available to yourself and other governors in the provinces.”

“But I must thank East Sepik for holding fort because we had to make adjustment year before last and last year so far as keeping to ensure that we remain above board of the continues plumage of word commodity prices has resulted in us readjusting our expenditure level.”

“It goes to show that when times are tough we also need to take demonstrated leadership in ensuring that money we don’t have we have done adjustments and I am sure that provinces like East Sepik who also did adjustments when the national government responded in managing the economy that way.”

Major expenditure areas for the province include:

·         Corporate Sector we have K5.5 million;

·         Personnel Emoluments  K84.3 million;

·         Social Sector K24.5 million;

·         Economic Sector K3.9 million;

·         Infrastructure Sector K45.5 million;

·         Capital Budget K79.5 million;

·         Wewak Sustainable Seawall Project  k3 million;

·         LLGs ward SIP K4.7 million.