By Bridgette Komatep – EM TV, Port Moresby
Calls have been made by the Opposition for the government to revise the 2015 National Budget.
Opposition Leader, Don Polye said the government was experiencing a cash flow shortage and says revising the budget is a moral obligation that the O&rsquO’Neill – Dion government must undertake.
The Opposition believes that re-doing the National Budget may project a healthier economic outlook.
The Opposition has observed that the country was experiencing a cash flow issue, a situation they claim, that the government was not admitting to. The Opposition Leader said the government needs to revise the 2015 National Budget to achieve real economic outcomes.
Mr Polye said budgets are living documents but can be revised through normal parliamentary processes under the Constitution. He said other economies, the world over, were revising their budgets, which he says are normal procedures in any economy.
The benefits that will be gained from a revised budget include setting a projection that can prioritise areas overlooked and set realistic economic projections for all players in the economic sector.
However, Prime Minister, Peter O&rsquO’Neill at the start of the Leadership Summit has maintained that PNG is protected from some of the effects due to the early sale of LNG but may be affected if the trend of falling oil prices continues.