Posted By Staff Reporter
Papua New Guinea PRIME Minister James Marape says the country’s economy has grown by K33 billion over the last three years without any new projects. Despite that, it was still work in progress, he added. “We grew the economy by trying our absolute best to increase efficiency in the public service,” he said. “Just by increasing efficiency, good governance and abiding by work ethics, we have now increased and become more effective in the collection of tax revenue. “Not by increasing tax rates, but simple human efficiency built back into our systems.” “Complacency is a disease, we need to step up and work for the law and get going. “I look forward to a time when whistleblowers’ act is fully mature and is assisting the systems of government and judiciary address corruption. “I look forward to a time when ICAC (Independent Commission against Corruption) is fully functioning, Ombudsman is fully, adequately resourced and functional, and police likewise.” Marape also placed on record that the Internal Revenue Commission was now collecting more money than it has been over the last couple of years.
“We’re simply isolating illegal operations from the black economy and we’re migrating all of them to the foreign economy now,” he said. “So if you see what they are collecting now, you’ll find that before 2019, they were probably collecting a quarter, a third, or almost half of what they are collecting now.” Marape said the country’s economy shows promising signs. “We don’t want a country that has a shadow economy, where those who operate in the illegal economy continue to proliferate,” he said. “We want our formal economy to grow and we are working to increase efficiency in the public service and its systems,” he said. The National / PNG Economy Watch also read
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