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The Original IPIC Loan– Follow the Money for the Answers to the Truth

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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

The Original IPIC Loan– Follow the Money for the Answers to the Truth

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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

PARAKA WILL TESTIFY

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By GEORGE KAPINIAS On the 11th of February 2014, 2pm, Paul Paraka was suppose to appear before the Waigani National Court before Justice Catherine Davani as a Defendant in the K71.8million that was paid to his firm and other firms he nominated . These payments were illegal and the manner in which the payments were approved and executed is now the center of investigation because the Prime Minister Right Hon. Peter O’Neill, Finance Minister Hon. James Marape and Treasury Minister Hon. Don Polye are allegedly involved. Unfortunately the matter was not listed for hearing on that day (11/02/2014) because of reasons only Justice CATHERINE DAVANI knows. The Judge could have been threatened or she could have been bribed. Paraka is brought to his knees and only time will tell how much he stole from the government of PNG. As a result of his stealing many mothers and babies die in the rural areas of PNG while he vine and dine in luxury, marrying countless number of women and having his family liv