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Showing posts with the label Jakob Weiss

What is Peter O’Neill hiding at Ok Tedi Mining Ltd?

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by FRANK TASO Since he and his cronies Nigel Parker, Musje Werror, Moi Avei, Daire Vele and Jakob Weiss threw out PNG Sustainable Development, the mine has been on a death spiral. It has caught O’Neill Disease, the fatal and untreatable parasitical sickness that infects all State Owned Enterprises. O’Neill and his blood-sucking worms grow fat by siphoning all the goodness out of the host SOE, leaving just a shell requiring regular injections of taxpayer funds medicine to recover, only to be sucked dry all over again. Now O’Neill and his cronies are lining up for another feast on OTML. The Prime Minister has ordered CEO Peter Graham to rip as much money out of the business as they can and give it to the Government as soon as possible to help avoid looming bankruptcy. The OTML board is dominated by O’Neill appointees and cronies including convicted Leadership Code fraudster Moi Avei, , Treasury Secretary and wanted criminal Daire Vele, Western Province Administrator and fra

INTERNATIONAL BONDS MARKETS AND BANKS DON'T TRUST O'NEILL LIES AFTER SOVEREIGN BOND FAILURE

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by MICHAEL JOSEPH PASSINGAN On 17 March PNG Blogs revealed that Peter O’Neill has secretly begged the World Bank for a loan of up to K1 billion. On 22 March we revealed that international agencies are about to downgrade Papua New Guinea’s credit rating once again – after already being downgraded late last year. Now some good news – the economy and national finances have been damaged so badly by O’Neill’s reckless borrowing and wasteful spending that his proposed $US1 billion sovereign bond issue is dead - D.E.A.D. This is good news because it means the nation’s indebtedness will not increase by $US1 billion in the immediate future. It means the long-suffering people will not have more debt to repay each year. IT MEANS THERE WON’T BE $US1 BILLION FOR O’NEILL TO STEAL AND WASTE The failure of the bond issue proves that international money markets won’t lend a toea to O’Neill’s corrupt regime unless it is at unaffordable penalty interest rates. Such unaffordable interest

3 BILLION KINA LOST OR STOLEN UNDER O'NIELL, HIS POLITICIANS AND CRONIES

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by MICHAEL PASSINGAN   More than K3 billion a year is likely being stolen and wasted by Prime Minister Peter O’Neill, his politicians, and their public service and private sector cronies. Over the five-year life of the O’Neill regime, they have likely stolen or wasted more than K15 billion. These estimates are based on figures made public by the Prime Minister himself, Works Minister Francis Awesa and the head of Task Force Sweep, Sam Koim. They demonstrate the enormous cost to the nation and the people of Papua New Guinea of O’Neill’s corruption and incompetence. They show that the rate of theft and other forms of corruption and waste under Peter O’Neill continues to increase. If O’Neill and his cronies had not stolen or misused K15 billion, Papua New Guinea would not be suffering from the current economic crisis. If the O’Neill regime had acted honestly, responsibly and competently, the decline in national development and service delivery could have been reversed. Instead, there h