Posted By Staff Reporter
New Opposition leader and Kandep MP, Don Polye calls on Prime Minister Peter O’Neill to step down because he is leading the country into “economic disaster.”
This was made known today at a press conference at the Parliament in Port Moresby.
Speaking on the economic aspect of the loans obtained from the UBS Bank by the O’Neill Deon government, Deputy Opposition Leader Sam Basil said the government is hiding the truth from the people through the illusion of a flowery supplementary budget of 2014 and recent 2015 budget in which the common budget practices were not followed.
“The biggest hoax was the hiding of the UBS loan; the actual borrowing figure was deceitfully hidden during the 2015 budget announcement deliberately” Basil said.
He said the Landowners of the PNG LNG project will pay the UBS K1 billion for the equity stake of the project.
He said the Landowners have not even received their UBSA agreement payments, yet they are paying a debt that they do not directly owe or agreed to borrow.
The Opposition also revealed that PNG has two loans to repay the UBS Bank.
The first is the loan to purchase Oil Search Shares and the next is the equity stake in the PNG LNG that is being held ransom by the UBS until the repayment of the amount borrowed to pay for the shares.
That is why the PNG LNG Landowners have not yet received their equity payments though the gas has already left our shores already.
Given those reasons and others significant issues to be addressed by a vibrant and transparent government, the opposition has called on members in the O’Neill Deon government including those in the middle benches to join the opposition for an alternate government.
Meanwhile Polye thanked former Opposition Leader Belden Namah for being a vibrant spokesman.
However he added that the change was for the good of the country.
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