Title: Papua New Guinea's Prime Minister Unveils Plans to Support Families Amid Rising Costs
#PapuaNewGuinea #Politics #WorldNews
In an effort to bolster the budgets of struggling families, Prime Minister James Marape recently announced a robust household assistance package as part of the 2026 National Budget. With living costs on the rise, this initiative aims to provide critical support for Papua New Guineans and reflects the government’s continued commitment to enhancing the welfare of its citizens.
“The welfare of our people has always been our foremost priority,” remarked Marape, emphasizing that the measures being introduced echo a consistent strategy initiated in 2022 to alleviate the financial pressure faced by families. His government has recognized the ongoing challenges people encounter, reinforcing the need for strong and sustained support systems during these challenging economic times.
One of the standout features of this budget is the extension of the Goods and Services Tax (GST) exemption on essential goods for an additional six months, pushing the new deadline to December 31, 2026. This initiative promises to significantly reduce prices on crucial items families depend on daily, making life just a little bit easier at the checkout.
With an estimated full-year cost of K500 million for the GST relief package, which includes K420 million in foregone Internal GST revenue and K80 million in Ports GST, every Kina saved translates into real relief for households. “Every Kina saved at the checkout helps a family breathe a little easier,” Marape noted, highlighting the direct impact these savings will have on the lives of everyday Papua New Guineans.
Additionally, the Prime Minister announced the elimination of stamp duty for first-time homebuyers purchasing properties valued up to K700,000. This strategic move not only assists young families in affording their first homes but also aims to bolster the housing market. Marape pointed out that he is contemplating further abolishing the 10% GST on first-time home purchases in the coming year, which would make home ownership even more accessible for many.
Through initiatives like these, it’s clear that the Papua New Guinea government is prioritizing economic relief and support for its citizens, fostering an environment where families can thrive despite the challenges posed by rising living costs. As the country navigates these tumultuous economic waters, the emphasis on family welfare signals a hopeful trajectory for the future of Papua New Guinea.
Stay tuned to Africazine for more updates on political developments and their implications for ordinary citizens across Africa and beyond.
