From New Dawn FM News
Bougainville needs economic strength to support our mandated visions and goals, the Autonomous Bougainville Government is working on an economic roadmap for Bougainville help to budget on matters we need.
ABG Chief Secretary reminded the people that the current internal revenue of K20million increased by K10million to K30million and hopefully to K55million as projected in this year’s budget.
Himata said the economic projects in the pipeline included the ‘commissioning generator for gold refinery three weeks ago in Arawa and awaiting the refinery plant to arrive and install, so we hope that we can commence buying & refining gold in second quarter of this year.
‘Secondly, the water bottling factory in Toniva, the factory building is up, we are waiting for the water bottling & packaging machine that we ordered from China. So, when it arrives, machine will be installed and should commence project mid this year.
‘Thirdly, the airline business the ABG government is investing in the ‘setup of Bougainville Wings Limited’ our airline company. ABG has bought our first airplane two weeks ago, as soon as we bought the airplane-our first revenue started flowing into our Bougainville Wings Limited account.
‘One successful investment and proposal our team has put together, the plane is attached to corporate charters and cargo charters as well.
‘Business will commence business starting this year by 2024 and 2025, we should have our first passenger airplane to support our travels outside of Bougainville and also overseas.
‘Another impact project is the Bana Special Economic Zone, project has started, our team is working on creating our development bank to deal with all foreign direct investments ‘this bank is required’ because we will be dealing with foreign currencies, when foreign companies come to assist us with our development projects n programs in Bougainville, they can bring in their foreign money through this bank, so this will boost economic activity in the region.
Himata also added the Panguna mine, is waiting for the certificate to be transferred by the National Govt, this is currently in progress.
‘Until we own majority of the share-holding from Bougainville Copper Limited (BCL). We can look at how we can open the mine. The decision was made by the people at Tonuru that they want to open the mine with their own mining company.
‘The Manetai limestone project will also be supported by the Panguna hydro, where power will be needed to power the project.
‘We are also focused on the Chocolate festival and the government has budgeted for this at the end of this year.
‘In-terms of fisheries revenue, the National government has agreed to to give the ABG government 15% of all tuna catch in PNG-waters -as Bougainville to entitled to another peace agreement. Currently, we get only K5mill per annum.
Himata stated that the tax regime will be looked into as well.
‘ABG has also invested K20million at Central bank which means our government will be collecting dividends per annum, a good revenue making.
‘Tonolei, will be looked at relating to the option of carbon trade and climate change.
‘Tourism Act, where tourism legislation is established and a board will be setup to promote tourism activities in the region.
‘ABG will strengthen its commodities thru the BACRA law to regulate all our commodities through the signed MOU with PNG Cocoa Board.
‘The ABG Team who travelled to Solomon Islands (S.I), may strike a policy framework, by starting to look at in-terms of petroleum products. ABG may want to purchase low petroleum prices from S.I, to avoid high prices from PNG.
‘Ramazon hydro and Soroken plantation is also being eyed for the solar farm.
‘ABG is also establishing its own power company and telecommunication. Right now, we heavily rely on Digicel, Bemobile and Telikom. Going forward we will use Huawei cable from Arawa to Buka. Dark spot areas will be used to setup towers where Digicel and the others can facilitate their communication.
‘While, Atolls continue to roll out VSAT.
‘We will improve the frequency for National Broadcasting Corporation (NBC) reach for Bougainville coverage.
‘K70million budget is also available to improve the Arawa General Hospital, while Buin funding under Asian Development Bank will kick start construction in September this year.
‘The government is committed to the road infrastructure from Aropa and Buin road, Pitono to Kesa road and continue to meet with Chinese government to discuss bridges program to continue from Bana to Buin, continuous development from Buka to Arawa roads,’ Himata explained.
He appealed to the people, we need your support and dedication to ask God to create an environment that we can become a country of our own.