MPs Need to Ask Hard Questions
by GREG MANDA Secrecy of financial arrangements and obfuscation of government budgeting has risen dramatically in the last two years. The Switzerland UBS loan is now history and no accounting has been given to Parliament or the people of Papua New Guinea. In the wake of the UBS loan, the country has been saddled with a new K1.5B loan from Credit Suisse. Has the Prime Minister invited any discussion from his ministers and the full Parliament on this new loan? Most Members of Parliament are in the dark about the essentials of the UBS loan. Every MP should be demanding full disclosure of all the details on the UBS loan. What we know is the loan totaled K3.0B, making it one of the biggest loans in the history of the nation and greatly increasing the indebtedness of the country. The Prime Minister needs to realize that the UBS money are public funds and therefore need a full and public accounting. We also know that most of the UBS money was used in March 2014 to bu