Government determined to redirect economic policies

The Grand Coalition for Change Government is determined to redirect economic policies to empower resource owners to have a meaningful long-term participation in the economy.

This policy has been one of the immediate tasks the government is going to implement as part of its economic recovery plan.

According to the Government's Policy Framework Document, focus will centre on rural development and the bottom up approach in planning and will make structural changes to critical institutions where appropriate.

The policy also involves the governments support for the ongoing tax reform exercise, debt relief management and will put in place measures to enhance revenue collection with a view of achieving financial sustainability.

While appreciating the previous administrations work on economic recovery and reform, the current government in formulating the next development plan will, emphasise rural development, independent economic growth, access to credit and the fair distribution of wealth and opportunities.

The policy document was launched by the Prime Minister Manasseh Sogavare in Honiara last week.

News source: SIBC Online (http://www.sibconline.com.sb/main.asp)