Prime Minister James Marape has appointed former National Planning secretary and University of Papua New Guinea’s economics lecturer Joseph Lelang as Treasurer, moving Ian Ling-Stuckey to Rural Development after consultations ahead of the 2027 National Budget formulation.
Lelang is a former economics lecturer at the University of Papua New Guinea and former secretary for the Department of National Planning and Monitoring.
Related news: https://www.postcourier.com.pg/pm-marape-removes-ling-stuckey-from-treasury/
PM Marape in a statement yesterday said the changes followed consultations with both ministers and careful consideration of the Government’s priorities as it prepares the 2027 National Budget and approaches the 2027 National General Election.
He paid special tribute to outgoing Treasurer Ling-Stuckey, describing him as one of the hardest-working ministers in his Cabinet who had served the country very well since his appointment in 2019.
“Hon. Ian Ling-Stuckey has served very well as Treasurer over the past seven years. He has carried an enormous responsibility on behalf of the entire Government, often at considerable personal cost to his health, family and electorate,” Prime Minister Marape said.
“I commend his character, dedication and strong leadership, and sincerely thank his family and the people of Kavieng for allowing him to carry this national responsibility.”
Prime Minister Marape recalled that when he appointed Mr. Ling-Stuckey Treasurer in 2019, he tasked him with restructuring Papua New Guinea’s debt profile, reducing reliance on expensive commercial borrowing, securing cheaper financing arrangements and growing the national economy.
“When he took over, our economy was valued at approximately K79 billion. Today, under his watch, it is approaching K160 billion,” he said.
“He has assisted me very well in managing the economy, restructuring our debt and laying the foundations for fiscal consolidation and a return to a balanced budget.”
Prime Minister Marape said Mr. Ling-Stuckey’s move to the Ministry for Rural and Development was intended to relieve him of the intense pressures of Treasury while retaining his considerable economic expertise within Cabinet.
In his new portfolio, Mr. Ling-Stuckey will focus on economic modelling, price control considerations, the National Economic and Fiscal Commission, labour mobility programmes and rural development strategies.
“This is a lighter but equally important responsibility. He will continue contributing to our economic progress while having greater opportunity to attend to his health, family and the people of Kavieng,” Prime Minister Marape said.
He said incoming Treasurer Lelang was a highly experienced economist and former departmental head in National Planning who understood the workings of Treasury, Finance and the wider government machinery.
“Hon. Joseph Lelang is no stranger to economic policy, national planning and public finance. He brings considerable experience to Treasury at a critical time as we finalize the 2027 National Budget and prepare for the first six months of 2027,” Prime Minister Marape said.
He said Mr. Lelang’s immediate responsibility would be to consolidate the economic and fiscal reforms undertaken by his predecessor while introducing a stronger policy focus on reducing reliance on borrowing, attracting investment, easing taxation burdens and expanding the formal economy.
Prime Minister Marape said another important responsibility entrusted to Minister Lelang was to strengthen the Department of Treasury’s role as the Government’s principal economic policy adviser.
“Part of Minister Lelang’s responsibility is to strengthen the Department of Treasury’s role as the Government’s main advisory institution on key economic policies, ensuring that it continues to provide sound, independent and professional economic advice to guide national policy formulation and decision-making,” he said.
“I want Treasury to remain at the forefront of economic policy development, providing the Government with strong technical advice, sound economic analysis and practical policy recommendations that support sustainable economic growth and improve the lives of our people.”
Prime Minister Marape said these institutional priorities would complement the clear economic policy directions he had given the incoming Treasurer.
“I have given Minister Lelang clear instructions. Firstly, we must cease reliance on new borrowing and review our debt profile. The next few years must be about growing our economy through investment and productivity, rather than continuing to depend on loans,” Prime Minister Marape said.
“Secondly, we must aggressively attract foreign direct investment, particularly in mining, petroleum, agriculture, forestry and fisheries. Thirdly, we must develop a taxation system that increases government revenue while reducing the financial burden on our people and businesses during these difficult economic times.”
Prime Minister Marape said the Government wanted to accelerate major resource projects, including Papua LNG, P’nyang LNG, Wafi-Golpu, Frieda River and Yandera, alongside other petroleum developments and downstream processing opportunities.
He said Treasury would also examine incentives for domestic timber processing, onshore processing of fish catches, agricultural downstream processing and other industries capable of generating employment and expanding the economy.
“We want to encourage more businesses to enter the formal economy while strengthening enforcement against illegal operators, including illicit tobacco traders and other black-market activities,” he said.
Prime Minister Marape said Minister Lelang had also been directed to review Goods and Services Tax (GST), stamp duties, personal income tax, corporate tax and other fees and charges, with the objective of developing a fairer and more competitive taxation framework.
“Pangu Pati believes in lowering taxes, fees and charges while encouraging greater participation in the formal economy. When our economy reaches K200 billion, our policy intention is to reduce the tax burden on our people and businesses,” he said.
“Our approach is to collect more revenue from a larger, stronger and more diversified economy rather than continuously increasing taxes on the same businesses and taxpayers.”
Prime Minister Marape said these priorities would guide the preparation of the 2027 National Budget, with selected measures forming part of the Government’s economic policy framework for the next parliamentary term, should Pangu Pati be returned to office.
He said the incoming Treasurer would also maintain the Government’s fiscal consolidation programme, including its commitment to return to a balanced budget in 2027, as outlined in the Government’s 13-year economic roadmap.
“This is a roadmap established under Treasurer Ling-Stuckey’s leadership as early as 2020. We intend to honour that commitment while positioning our economy for stronger investment, greater employment and lower taxation in the years ahead,” he said.
“Hon. Ling-Stuckey has carried a tremendous national load for seven years. He deserves some breathing space, and he will remain a senior member of our Cabinet and continue contributing to the development of our country.
“I thank both ministers for their understanding, cooperation and continued commitment to serving Papua New Guinea.”