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Showing posts with the label Hela

A WOLF IN SHEEP'S CLOTHING?

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by TED TEMO James Marape is the biggest liar, betrayer and hypocrite of all time.
He is the definition of a wolf in sheep's skin.
He was PNC, part of PNC and served as the longest serving Finance Minister for seven (7) consecutive years in the PNC Party government.
He resigned from PNC Party and lied to this country and her people that he didn’t want to be part of a corrupt O’Neill government. However, to date he has not produced one single evidence and or laid one single complaint with Ombudsman Commission or Police National Fraud and Anti Corruption Directorate on his claims.  
He was never genuine from the start. He said he only wanted to remove O’Neill and never wanted to be PM. However, in Laguna camp, he forced himself by putting his name down on VONC Motion Paper has the candidate for PM hoping that he will attract the numbers. Needless to say, he never attracted numbers and so fall short of the required majority (magic number) which is 56 MPs. 
In failing his bid, he then went t…

WHY THE LNG RESOURCE OWNERS SHOULD BE CONCERNED WITH TRUST FUNDS HOLDING THEIR ROYALTY MONEY

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by KARK SEMANU

WHAT ARE TRUST FUNDS
Outside of PNG trust funds are normally established as either medium term holding accounts whose contents at a specified date are turned over to a beneficiary, or to an account maintained in perpetuity, where the principal is never touched and only the earned interest monies are ever withdrawn.

CORRUPT USAGE OF TRUST FUNDS:

1. LEAVING THE PRINCIPAL BUT STEALING THE EARNED INTEREST
In PNG, the trust account concept has been corrupted in many directions. The most common reason for a politican or a government bureaucrat to want control of a trust account is to steal the interest monies accrued. That is a corruption of the traditional trust account in that they have no authorisation to do this. The interest monies earned belong to the government. The corrupt government official's actions escape the government's attention in many cases in this way: A government disbursement of a quite large amount of money is secured, let's say K20 million. Tha…

EXCITING TIMES YET CHALLENGES AHEAD FOR PNG EXTRACTIVE INDUSTRY SECTOR

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by KOMBOL GIBSON

PNG is endowed with a $19bn oil and gas industry. The size of this industry is set to double and almost triple. It’s an exciting prospect for PNG but challenges remain for delivering that blessing to every man, woman and child in PNG. In fact the opposite is happening. PNG should be concerned.

There is a large focus on Government-funded programmes in the Hela and Southern Highlands Provinces instead of a more equitable arrangement for all 21 Provinces in PNG. That is a story for another day and a subsequent article, but the upshot of this focus on Hela and SHP is that the vast majority of it ends up in the hands of elites from these Provinces that reside elsewhere, access health services in Port Moresby or overseas, send their children to school overseas, maintaining multiple wives and mistresses and invest in Port Moresby or overseas. So roughly 80% of funding that gets diverted to Hela and SHP ends up in the pockets of Ministers, MPs, senior public servants, advisors,…

WHERE ARE LANDOWNERS, LLGS AND PGS LNG EQUITY FUNDS KEPT?

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By Nemo Yalo: Principal of Nemo Lawyers former Acting National Court Judge
former Chief Legal Counsel for Ombudsman Commission

There is in an ongoing public debate between the Government and the Opposition in Parliament regarding the receipt and application of the proceeds from the sale of the LNG. In its 2015 first half Environmental and Social Report, Exxon Mobil states that its US$19billion project loaded the 100th LNG shipment on LNG carrier Methane Spirit on 15 June 2015. The first LNG cargo was shipped on 25 May 2014 destined for Tokyo Electric Power Co. Inc. (TEPCO) in Japan delivered on 2 June 2014. The LNG Project is expected to produce nine (9) trillion cubic feet of gas over 30 years. It has the capacity to produce 6.9 million tonnes per year. The report reads in part:
“The Papua, the first custom-built LNG carrier for EMPNG, arrived at the LNG Plant Marine Terminal on 22 February 2014 to begin loading its first cargo. The 172,000-cubic metre, 290-metre-long LNG carrier is th…

PNG Politics is Unpredictable

TUNGUBE IGINI

AFTER adjourning parliament, the government thought it would be safe to continue until 2012. But PNG is the land of the unexpected and its politics is unpredictable.  The URP and NA marriage is cracking after James Marape was appointed Hela Transitional Authority (HTA) chairman.
It was bitter for Governor Anderson Agiru, who just returned from New York after delivering the gas agreement. With Sir Puka Temu out of the way, Sir Michael Somare will now have to contend with Agiru. With that in mind, two things may happen. NA must now accommodate URP’s demands or face a vote of no-confidence.
Either way, it will be costly for NA. Whatever happens, the Hela people and the LNG project proponents will feel the impact and Agiru and Sir Michael must know that good things like the Hela gas comes from God. Corruption, hijacking and manipulation are not God’s ways and rewards. Hela sons Agiru and Marape must put Hela’s interest first before politics.
The proposed province and Hela gas is ou…

PNG Politics is Unpredictable

TUNGUBE IGINI

AFTER adjourning parliament, the government thought it would be safe to continue until 2012. But PNG is the land of the unexpected and its politics is unpredictable.  The URP and NA marriage is cracking after James Marape was appointed Hela Transitional Authority (HTA) chairman.
It was bitter for Governor Anderson Agiru, who just returned from New York after delivering the gas agreement. With Sir Puka Temu out of the way, Sir Michael Somare will now have to contend with Agiru. With that in mind, two things may happen. NA must now accommodate URP’s demands or face a vote of no-confidence.
Either way, it will be costly for NA. Whatever happens, the Hela people and the LNG project proponents will feel the impact and Agiru and Sir Michael must know that good things like the Hela gas comes from God. Corruption, hijacking and manipulation are not God’s ways and rewards. Hela sons Agiru and Marape must put Hela’s interest first before politics.
The proposed province and Hela gas is ou…