PNGBLOGS

By SAM BASIL MP Two weeks ago, I Sam Basil MP, in my capacity as Deputy Opposition Leader, issued a media statement on behalf of the Opposition regarding The Budget Accountability of the IPIC Loan. In the statement, we exposed the lies behind the refinancing of the IPIC loan, to get back the Oil Search Ltd. (OSH) shares belonging to the State of Papua New Guinea (PNG). This refinancing is to occur on the 14th March 2014 whereby the country’s OSH shares that was used as the collateral in acquiring equity in the Esso Highlands PNG Liquefied Natural Gas (PNGLNG) Project, can be returned to PNG and its citizens. The Prime Minister, Peter O’Neill, has already stated that the State will get back the OSH shares but with less than 4 weeks to go to the refinancing of the IPIC loan, the O’Neil Government does not have a plan for the return of the OSH shares and what the Opposition predicted, will occur: The O’Neill Government will say the best outcome was addressed and give the PNG public a mund

By SAM BASIL MP Two weeks ago, I Sam Basil MP, in my capacity as Deputy Opposition Leader, issued a media statement on behalf of the Opposition regarding The Budget Accountability of the IPIC Loan. In the statement, we exposed the lies behind the refinancing of the IPIC loan, to get back the Oil Search Ltd. (OSH) shares belonging to the State of Papua New Guinea (PNG). This refinancing is to occur on the 14th March 2014 whereby the country’s OSH shares that was used as the collateral in acquiring equity in the Esso Highlands PNG Liquefied Natural Gas (PNGLNG) Project, can be returned to PNG and its citizens. The Prime Minister, Peter O’Neill, has already stated that the State will get back the OSH shares but with less than 4 weeks to go to the refinancing of the IPIC loan, the O’Neil Government does not have a plan for the return of the OSH shares and what the Opposition predicted, will occur: The O’Neill Government will say the best outcome was addressed and give the PNG