TREASURER PLEDGES BETTER POLICIES TO LIFT REVENUE
BY NIGEL MADO
AS Treasurer Ian Ling-Stuckey presented the 2026 Budget Appropriation on a floor of Parliament, he also pledged that better Economic Policies would lift revenue collection.
During his presentation, he stated that good progress is being made, to lift the country’s revenues, adding that the Government has been working hard, through better policies, such as the Dividends policy compelling the Kumuls to pay more, and through a modernised and simplified new Income Tax Assessment Act.
Ling-Stuckey said these policies, have been supported by increased operational funding support for IRC, which has increased from K102 million in 2024, to K144 million in 2026, and Customs, with the budget increasing from K123 million in 2024 to K129 million in 2026.
He digressed that indeed, in 2026, PNG’s domestic revenues are expected to be 18.8% of the GDP, further reiterating the this is higher than the revenue target of 17.9% by 2027 set out in the Medium-Term Revenue Strategy.
He stressed that at the moment are, the projections are now exceeding revenue targets, but still not enough to meet the legitimate needs of the people.
