PM confirms stimulus package extension likely

The Government will likely announce a second stimulus package policy due to its strong financial position last year, said the Prime Minister (PM), Bob Loughman.

He announced this in the presence of the Minister of Finance, Johnny Koanapo and the Deputy PM and Minister of Internal Affairs, Ishmael Kalsakau, in an occasion yesterday.

This shows that this government is for the people and it is prioritising its people's welfares, he said.

Minister Koanapo said the Ministry of Finance and Economic Management (MoEF) have held several consultations with the Chamber of Commerce and the private sector on the stimulus package extension.

The extended stimulus payment and other details will be endorsed by the Council of Ministers (COM) next week, he conveyed.

“We have what we call the three levels of assistance to help businesses, giving special consideration to small and medium enterprises," he said. 

“We are looking at the possibility of subsidy. Of course, there will be a criteria which I will elaborate more after COM and another level to do with the banks on how the government can sustain the private sector during this difficult time.

“The budget for the small-medium enterprises has already been appropriated by parliament last year, which means there is money available."

Minister Koanapo said the government has done a lot to support the private sector so far and this needs to be acknowledge by the private sector.

He said the extended stimulus package will cover businesses in general affected by COVID-19 pandemic, not only those related to tourism.

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