Posted By Staff Reporter
Papua New Guinea Prime Minister Peter O'Neill has hit back at accusations that he's using money from the PNG LNG project at his own will.
Opposition Leader Don Polye has revealed figures from Budget Books, that out of the 4-point-2 billion US Dollar or about 12 to 13-billion Kina global market sale, PNG is entitled to 2-point-5 to 3-billion Kina last year, because of its 19-point-2 percent share in the LNG project.
Mr. Polye says, there are budget cuts everywhere, and Papua New Guineans are not feeling the impact of the 2 to 3-billion Kina of LNG money.
He says, while the Budget Books only provided figures of the gas sale, it fails to show where the money was put to use.
But Peter O'Neill, distanced himself from the accusation of putting the money to his own use.
He says, PNG has borrowed from 20 different banks to finance its contribution in the project and this is where money will be going to pay the loans.
He says what is left over is paid to the National Petroleum Company and the Kumul Petroleum Holdings, which will then pay it into the Consolidated Revenue in the Central Bank for Papua New Guineans to benefit from. NBC / PNGfacts
Papua New Guinea daily News updates
Let Your Voice be heard: Submit your news articles, commentaries, letters , Photos, Media Releases etc to us on this email: firstname.lastname@example.org
Subscribe for News Alerts
Get Breaking News Headlines through Email: Subscribe Now