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Port Moresby
November 17, 2019
News

Marape warns contractors to deliver on budget

The Department of Finance has undertaken a major review intothe Public Finance Management Act to ensure all government programs are delivered on budget.

Finance Minister James Marape has also warned all contractors to deliver on budget and on time.

He wants contractors to use at least seventy per cent ofthe project funds for the projects instead of using less and giving ether an incomplete or poorly done project.

He says his department is amending various sections ofthe Public Finance Management Act to ensure this is achieved.

Section-8 of this act will be amended inthe March parliament session. This amendment will see more powers being bestowed on inspectors to ensure compliance.

The end result of contractors not performing tothe value ofthe money will be to blacklistthese companies from doing business in PNG

He futher said bythe end ofthe year,the government will want to see infrastructure projects inthe country delivered tothe value of K13 billion kina as perthe budget.

Ruth Rungula, National EMTV News

https://youtube.com/watch?v=RBe3N1XSjKs%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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