Treasurer Don Polye announced this when presenting the 2013 Supplementary Budget in addition to the 2014 national Budget handed down in Parliament yesterday.
“The 2013 Supplementary Budget contains a number of saving measures realised from project underspends totalling K386 million of which K315,800 million will be brought forward for investment in the 2015 South Pacific Games,” he said in his budget speech.
NATIONAL Cultural Commission gets K14 million for the Melanesian Arts Festival next year and K50 million will go Treasury to cater for power generators.
He said the appropriation of K315,800,000 will be immediately transferred to the Department of Prime Minister and NEC and later credited to the 2015 South Pacific Games Trust account for additional expenditure outlined in the 2013 Supplementary Budget.
The Treasurer said funds in the Trust Account cannot be utilised or transferred for any other purpose.
“It is of regional significance that these sporting facilities meet world standards and are completed on time by March 2015 , to cater for more than 3,000 visiting athletes from 22 Pacific Nations from 28 different sports from July 4th to 18th 2015,” Polye said.
He said the 2013 Supplementary Budget is a demonstration of the Government’s commitment to ensuring that the 2015 South Pacific Games is a memorable event for our visitors and the people of Papua New Guinea.
“The results are and will be out there for everyone to see,” he added.
Construction work on the Games village at Waigani, new Aquatic Centre and volleyball and basketball complex at Taurama and Sir Hubert Murray stadium at Konedobu are currently in progress.
Meanwhile the Sports Enhancement program fund for districts and provinces administered by the PNG Sports Commission has been increased from K5m to K10m. Of this K7million will be used to upgrade 20 sports venues and infrastructure and K3m will be spent on coaching clinics and sports enhancement in 10 pilot districts.