PAPUA NEW GUINEA

Finance Act 1996

No. 30 of 1996

ARRANGEMENT OF SECTIONS.
1. Financial ceilings in preparation of National Budget for 1997.
2. Direction.

AN ACT 
entitled 
Finance Act 1996,
Being an Act to fix the financial ceilings to be used in the preparation of the National Budget for the financial year commencing I January 1997,
MADE by the National Parliament. 
1	FINANCIAL CEILINGS IN PREPARATION OF NATIONAL BUDGET FOR 1997. 
In the National Budget for 1997 the amount to be appropriated in respect of each of the items shown in Column 1 of the following table shall not exceed the amount shown in Column 2 opposite:-
COLUMN 1	TABLE	COLUMN 2	
	(a) Recurrent Budget		K million	
			(i) National Departments:			
			Salaries and wages		361.3	
			Goods and other services		379.3	
		Sub. total	740.6	
			(ii) Provincial Governments (including Interim Provincial Governments) – Grants			
			Salaries and wages		268.4	
			Goods and other services		78.7	
				Sub. total 	347.1	
						
			(iii) Statutory Authorities - Grants		109.5	
						
			(iv) Debt Service			
			Interest		328.6	
			Amortisation/Loan Repayments		226.0	
						
		Sub-total	554.6	
Total Recurrent Budget	1,751.81	
(b) Development Budget			
	National Departments and Statutory Authorities
	Public Investment Projects:-			
						
			(i) Australian grant aid projects		167.7	
			(ii) Other Projects		200.0	
			(iii) Provincial Government (including Interim Provincial Governments)		240.5	
				
Total Development Budget	608	
Total amounts – Recurrent and Development Budgets	2,360.0	
2	DIRECTION.
The Minister responsible for presenting the National Budget shall present to the Parliament a detailed National Budget which shall not exceed in amounts the amounts as specified in the Table in Section 1.

I hereby certify that the above is a fair print of the Finance Act 1996 which has been made by the National Parliament. 
Clerk of the National Parliament. 
I hereby certify that the Finance Act 1996 was made by the National Parliament on 2 October 1996. 
Speaker of the National Parliament.