Posted By Staff Reporter
The Prime Minister has been referred to the public prosecutor by the Ombudsman Commission on three grounds, one of them being a statement to EM TV relating to the lack of official consultation on the UBS loan.
The other two allegations are claims that the national government did not follow administrative and financial processes in acquiring the UBS loan to purchase shares in Oil Search Limited, along with the sacking of Don Polye from the position of Teasurer.
In a statement this afternoon, the Prime Minister said he was not given adequate time to respond.
The Prime Minister, in a statement today, expressed disappointment towards the 3 allegations raised by the Ombudsman Commission referring him to the public prosecutor.
He has been referred on 3 allegations which are: claims that the National Government did not follow proper administrative and financial processes in acquiring the UBS loan to purchase shares in Oil Search Limited, the sacking of Don Polye as treasurer and a statement to EM TV relating to the lack of official consultation on the matter.
The claims follow the decision by the National Government to raise a UBS bank loan that enabled PNG to buy back shares in Oil Search.
The shares are said to have increased in value by close to K500 million.
The Prime Minister argues that OC has chosen to take this course of action instead of following procedures and tabling its final investigation in parliament.
Mr O’Neill said he is adamant that investors are not put off by the ongoing saga and this is also an NEC decision. He claims this is a politically-motivated move.
The Ombudsman Commission, on the other hand, has refrained from commenting until an outcome is reached by the public prosecutor.
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: email@example.com
Subscribe for News Alerts
Get Breaking News Headlines through Email: Subscribe Now