Legislation
Legislation plays a critical role in shaping the economic and fiscal landscape of our nation. It provides the legal framework that governs financial policies, resource allocation, and public accountability. At the National Economic & Fiscal Commission (NEFC), we work to ensure that legislative measures support sustainable development, fair distribution of resources, and responsible fiscal management. By adhering to strong legislative frameworks, we contribute to building a more equitable and resilient economy for all citizens.
Regulations & Policies
The NEFC’s operations are governed by the following legislations and relevant regulations. The NEFC is established under section 187H of the constitution of PNG to provide impartial and independent advice to the National Executive Council (NEC) and the Government. The overarching mandates of the NEFC as provided in the constitution are:
- Assess and monitor the economic and fiscal policies of the national, provincial and local level governments
- Advise and recommend to the National Executive Council appropriate economic and fiscal policies
- Make recommendations to the National Executive Council and the National Parliament on the intergovernmental financing arrangements and administration of grants.
The functions, responsibilities and policies of the NEFC are further specified under the following principle legislations:
- The Organic Law on the Provincial and Local level Governments (OLPLLG) 1998 – Section 117
- Intergovernmental Relations (Functions and Funding) Act 2009 and
- The National Economic & Fiscal Commission Act 2009
Constitutional provisions on Decentralisation
There shall be a system of Provincial Governements and Local-level Governments for Papua New Guinea in accordance with this Part. An organic Law shall provide for, or make provision in respect of, the form and the manner of establishment of the Provincial Goevernments...
Budget and Expenditure instructions May 2010
On Wednesday of 16th July 2008, the National Parliament passed amendments to the Organic Law on Provincial Government and Local-Level Governments establishing a new system for funding good and services in Provinces and Local Level Governments.
Constitution of PNG
United in one nation, pay homage to the memory of our ancestors - the source of our strength and origin of our combined heritage, acknowledge the worthy customs and traditional wisdoms of our people - which have come down to us from generation and pledge ourselves to...
Acts
Acts are vital legal instruments that empower the National Economic & Fiscal Commission (NEFC) to fulfill its mandate effectively. They provide the authority for NEFC to guide fiscal policy, oversee resource distribution, and promote economic accountability across government institutions. By implementing and enforcing these Acts, NEFC is enabled to ensure transparency, equity, and sustainability in the management of public funds. These legislative frameworks allow NEFC to play a key role in fostering financial stability and contributing to the broader national development agenda.