Meantime, Former Treasurer and Triumph Heritage Empowerment Party Leader Don Polye has urged Prime Minister Peter O'Neill must not give high hopes to the people on benefits of the PNG LNG Project.
While, commending PNG LNG Project developer Exxon Mobil and its partners, Mr Polye says Prime Minister must tell the truth. But, Prime Minister Peter O'Neill earlier, said, the U-B-S loan will in no way affect the revenue proceeds of the PNG LNG Project. He said the 3-billion Kina U-B-S Loan has been parked with state company Petromin to manage, and these allegations of LNG Revenue mortgaging U-B-S loan was false. He said state had acquired this loan to buy 10-point-1 percent shares in Oil Search which was a right decision because of Oil Search value that government thinks its best for the country. "Point that there'll be huge benefits to the people of this country at the flow of LNG earlier of around this time in this year is a deception. It is giving false hope to the people of Papua New Guinea that is only raising expectation of the people but in reality this benefits will not be realised. Why do I say this,firstly because the three billion kina UBS Loan has tied every single proceed directly into the National Petroleum Company of Papua New Guinea (NPCP) will have the proceed directly paid to UBS to repay the 335 million dollars loan with interest. That's why I took this matter to court". Comments are closed.
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