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Showing posts with the label Sir Ninian Morgan Lourdenadin

PSHOP Money Trail Leads to Prime Minister Peter O'Niell

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by PAUL J REINBARA The Prime Minister was quoted in the Post Courier of 21st August 2012 as announcing the National Executive Council decision to terminate the K31.52 million Public Service Home Ownership Program (PSHOP) contract and the contractor, Australasia Pacific Panel Limited (AUSPAC), has offered to repay the money in full. Mr O’Neill said significant increases in property development and building costs over the last five years had made it impossible for the contractor to deliver fully serviced land and 200 houses at Eight Mile in the National Capital District. Mr O’Neill commended Australasia Pacific Panel Limited for its offer to repay monies it had received from the State for the PSHOP project. “The vast majority of cancelled contracts with the State end up costing the State millions of Kina. It is to the credit of the contractor and its executives and affiliates that the monies advanced by the State are being repaid in full,” he said Although the announcemen