28 Apr 2008

PNG government further decentralises financial services

7:47 pm on 28 April 2008

The Papua New Guinea government is further decentralising its financial services with the establishment of four regional treasuries.

The newspaper, The National, reports that the regional treasuries will operate in Morobe, Madang, East Sepik and Sandaun provinces.

Treasurer and Finance Minister Patrick Pruaitch says the total cost of establishing the offices is estimated at 9 million US dollars.

Mr Pruaitch says the programme is a strategic move by the Department of Finance to reinforce its functions and operations, and for provincial and district treasuries to have a resource support base at their doorstep.

He says the Government's focus has shifted towards rural development and it is important for service-drivers like the

Department of Finance to strategically realign its operations.

The department is also having discussions with the University of Papua New Guinea to develop a long-term training package for the staff to increase their intellectual capacity.