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PETER O'NEILL'S INFRASTRUCTURE SCAM FOR ATTRACTING VOTES:

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by ROBERT MORUMBU Several defenders of Peter O'Neill and his infrastructure scam commented on PNG Blogs when the article comparing dictator Kim Jong Un's (North Korea) infrastructure infatuation with Peter O'Neill's infrastructure infatuation. The point made was that both countries have been emphasising iheadlong dedication to infrastructure creation. North Korea has been doing it for years and it hasn't achieved much in improving their integral human development for the people as a whole. PNG is basically following the North Korea model and the results as a far as real development is concerned, is likely to be the same disappointment as North Korea is getting. Peter O'Neill's infrastructure boom is a scam for several reasons. First, a lot of it is built with loan money, which all has to be paid back with interest, using the taxpayer's money. Second and worse, when the infrastructure is built poorly, it falls apart before the loan money used to build th…

PM’S ILLEGAL UBS-OIL SEARCH SCAM COSTS PNG A BILLION KINA

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by MARK AMBANE
Prime Minister Peter O’Neill’s illegal and corrupt deal with UBS to buy 10 percent of Oil Search is now a full-scale disaster.
It is threatening the viability of the 2016 Budget and could further undermine Government finances, which are already at crisis point.
The State’s 150 million shares were bought in March 2014 for $8.20 each.
That is a total $A1.2 billion, or about K3 billion at the exchange rate early that month.
A few days later, on 14 March 2014, the Prime Minister boasted that the country had already made a profit on the shares of $A75 million (about K170 million).
Today, the losses on the purchase are stupendous.
Those 159 million shares were worth slightly less than $A5.70 today. That is a loss of $A400 million. At today’s exchange rate that is about K850 million.
Peter O’Neill, Peter Botton of Oil Search and UBS have cost Papua New Guineans almost a billion kina.
Worse still, the disastrous slide in the value of Oil Search shares may cost Papua New Guinea even more.

DIGICEL'S MUSICAL CHAIRS AND USE OF PNG AS A CASH COW.

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NIUGINI OUTLOOK

The now infamous John Mangoes of PNG Power CEO fame was Digicel PNG CEO until the end of March. Mangoes competency at Digicel was questionable as Digicel service was frequently erratic and some things just seemed never to be fixed. But this past January, it was under Mangoes direction that the new Digicel customer service unit was established under a returning Lorna McPherson and the much hated "no warning message before the voicemail charge" policy was finally done away with. At least that's what we thought. But the voice mail warning has come back on, with no advance warning, in the typical "we don't give a Sh!t about our customers" way. What happened to the supposed commitment to customer service?

Enter Maurice McCarthy, another Irishman seeking to shovel as much money as possible towards Irishman Denis O'Brien, as he struggles under an overall Digicel debt of around USD $6 billion. The last 2 years of Digicel oper…

PETER O'NIELL AND CO IN ANOTHER MASSIVE K1 BILLION DIRTY DEAL

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HOW DIGICEL IS RIPPING YOUR HARD EARNED KINA

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