24 Jun 2005

New Bougainville government seeks economic recovery plan

3:38 pm on 24 June 2005

The Vice President of the Papua New Guinea province of Bougainville says one of the first challenges for the new government is to implement an economic recovery plan.

Joseph Watawi and the other nine cabinet members were sworn in yesterday.

He says an economic taskforce is already working to identify the first moves the government will need to make to start generating income.

The Papua New Guinea government, through the Peace Agreement, is allocating a substantial grant.

Mr Watawi says in terms of generating more income, they want to separate out the elements of this grant generated by primary products from Bougainville.

"We can say that we have the cocoa and the copra, and in terms of having some immediate consultation with the national government on the amount of the devolution grant that is actually derived from the exports of the two commodities, and also dealing with the tax arrangements that need to be imposed."