Parliament resumed this afternoon at around 2:30pm and the recent sale of Oil Search shares was high on the list of agendas.
It all started with a question without notice from Moresby North-West MP, Sir Mekere Morauta, asking Prime Minister Peter O’Neill a series of questions in relation to the sale.
“Why have you sold the shares at prices below what you paid for?
“It has been reported that you sold the last tranche of 31 million shares at $6.70, $1.50 less than the purchase price, incurring a loss on this final parcel alone of around K120 million,” pointed out the former prime minister.
“At what prices did you sell the other 118 million shares – more than $8.20 or less?
“Will you table in Parliament all details of the transactions for forensic investigation to establish the truth?”
However, during his question, Finance Minister James Marape and Deputy Prime Minister Charles Abel kept on interrupting Sir Mekere, telling him to ask the questions during grievances debate at a later time.
In spite of the interruptions, Sir Mekere continued and finished by asking the Prime Minister as to how PNG will benefit and if the shares sold to a party or parties will continue to protect Oil Search.
The PM, in response, told Parliament that the decision to sell the Oil Search shares was not his but the board of the Kumul Petroleum Holdings Ltd.
He told Parliament that he will be tabling a report on the breakup of the shares once the KPHL board complete their annual reports.
Meanwhile, Parliament has been adjourned to 10am tomorrow.