Prime Minister James Marape has appointed Joseph Lelang as the new Treasurer, replacing Ian Ling-Stuckey, who has been moved to the Ministry for Rural and Economic Development after seven years in the Treasury portfolio.
The changes were announced on Thursday, November 12, following consultations with both ministers and ahead of preparations for the 2027 National Budget.Prime Minister Marape thanked Mr Ling-Stuckey for his service since 2019, saying he had carried a major responsibility in managing the country’s finances, reducing borrowing costs and supporting economic growth.
During his time as Treasurer, the national economy grew from about K79 billion to nearly K160 billion, according to the Prime Minister.Mr Ling-Stuckey will continue serving in Cabinet, with responsibilities covering economic modelling, price controls, labour mobility programmes, rural development and the National Economic and Fiscal Commission.
Mr Lelang, a former senior official in the National Planning Department, takes over Treasury at a time when the Government is preparing its 2027 Budget and working towards a balanced budget.Prime Minister Marape said the new Treasurer would be tasked with reducing reliance on borrowing, attracting more foreign investment and reviewing the country’s taxation system.
The review will cover Goods and Services Tax (GST), stamp duties, personal income tax, corporate tax and other government fees and charges, with the aim of reducing the financial pressure on households and businesses while increasing government revenue.
Mr Lelang will also oversee work linked to major resource projects, including Papua LNG, P’nyang LNG, Wafi-Golpu, Frieda River and Yandera.
The Government also wants to increase local processing of natural resources, including timber, fish and agricultural products, rather than relying mainly on the export of raw materials.
Prime Minister Marape said these priorities would form part of the Government’s economic programme as it prepares the 2027 National Budget and works towards its target of returning to a balanced budget.He thanked both ministers for their continued commitment to serving the country.
