PM Welcomes Ombudsman Commission's Loan Review

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O'Neill had stated last week that the loan and details had to come before Parliament for debate etc, and he repeats it today.

"Prime Minister Peter O’Neill today welcomed the review of the UBS loan by the Ombudsman Commission.

He says the review will clarify the lies and misinformation about the loan.

 

All details regarding the loan will be available to the Ombudsman Commission for the review to be conducted.

 

Mr. O’Neill maintained that the loan was obtained to secure shares in Oil Search, and to ensure PNG continued to be strategically placed to benefit from its resources.

 

Mr O’Neill said the details of all transactions on the UBS loan will also be tabled on the floor of Parliament during the May session.

 

All these surfaced after the former Treasurer Don Polye revealed that he was sacked by the Prime Minister Peter O’Neill for not signing the K3 billion loan.

 

The loan agreement has since drawn public outcry. Several groups including University student’s held forums to inform the public on the loan deal."

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And Namah is again calling for O'Neill to resign.  Ain't going to happen Belden.  This is getting fun again.

"Following Don Polye’s claims on a talk back radio show about the Prime Minister’s involvement in the Paraka saga, Opposition Leader, Belden Namah, is now calling for Peter O’Neill’s resignation.

Mr.Namah in a media conference this afternoon said it is only right for the Prime Minister to step down.

 

Opposition leader Belden Namah this afternoon called on the Prime Minister to step down after the former Treasurer claimed on FM100’s talk back show, that Peter O’Neill gave him directions to process the payment of K71 million to Paul Paraka.

 

Namah says this revelation now calls for the prime minister to resign.

 

The Opposition Leader also welcomed the Ombudsman Commission’s decision to stop the NEC decision on obtaining the K3 billion UBS loan.

 

He used the recent sackings of Don Polye and William Duma as an example to caution other Ministers in government.

 

The Opposition Leader is now calling on other members in government to join the Opposition for the benefit of the public."

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And Polye's statements. This is pretty amazing that he as (now former Treasury Minister) is saying what he's saying about PNG being saddled with debt. Hey Don, remember the chunk in the 2014 budget that was to pay off IPIC in case the OSH shares were not at A$8.55/share? Guess what, that no longer is needed; everything worked out just fine. He needs to be sent for a walk in the woods where people might turn parts of him into soup!


"Sidelined Treasury Minister, and Member for Kandep Open, Don Polye, praised the Ombudsman Commission’s intervention into the K3 billion loan saga.
Mr Polye said events leading to the signing of the loan are filtered with lies and misinformation in acquiring the loan. He said the decision was a lone decision by Prime Minister Peter O’Neill which prompted Mr Polye, not to sign the agreement.
He added that, the pros and cons of the loan were not discussed by NEC in detail, or documented for that matter. And this loan will have tremendous effect on the 7.8 million people of PNG, he added.
The former Treasury Minister said the loan will cause a stagnant developing budget. This will see the mortgaging of the LNG revenue, to repay debt, leaving landowners and the country, nothing on the table.
Mr Polye was praised by callers from all over the country, in making a bold move not to sign the loan, and speaking the truth as it is a matter of the nation."