Patrick Pruaitch

ExxonMobil evading tax, Opposition claims

According to a statement issued by Mr Pruaitch, he said there is no plausible reason why ExxonMobil, as the largest equity holder in the US$20 billion venture, has never been the single largest company tax payer since LNG exports commenced in 2014.

The Opposition leader stressed that as an unincorporated joint venture, all five joint venture partners, including Kumul Petroleum, adopt identical accounting standards so the share of profits and taxable income of each partner is broadly comparable and should reflect their individual equity holdings.

Opposition calls for tax explanation

Mr Pruaitch said the public is entitled to facts and not rhetoric explaining why Kumul’s tax figure for 2014 alone was much higher than the total tax paid by Kumul Petroleum for the three years to 2016.

The Opposition leader said the Internal Revenue Commission records released in the Extractive Industries Transparency Initiative (EITI) annual reports show that the total tax paid to IRC by Kumul Petroleum in 2014, 2015 and 2016 was only K127.5 million, or K115 million less than what was due in 2014.

Kumul Petroleum brushed aside debt claims

Opposition Leader, Patrick Pruaitch, in a statement claimed that Kumul Petroleum owes Internal Revenue Commission K451 million for corporate taxes they should have paid in 2014 and 2015.

Kumul Petroleum Limited MD, Wapu Sonk, when responding to claims by the Opposition told this newsroom that these are mere allegations politically motivated.

He said Kumul Petroleum always paid its taxes and couldn’t be in debt to such a big magnitude as claimed.

Pruaitch on cash flow issues

That was his response when responding to Deputy Prime Minister Charles Abel on cash flow issues in the country.

The Opposition leader said his advice from his very first budget in 2014 was to sharply curtail the level of borrowing.

He added that when Government is in receipt of record revenue, it is not the time to be making excessive loans and running large fiscal deficits.

He said the Government borrowed far too much in a brief period and most of it has been misspent.

Opposition calls for disaster report

Pruaitch in a statement said the aftermath of the disaster has seen ongoing clan fighting, chaos, law and order issues in Hela and Southern Highlands provinces.

Pruaitch raised this concern as the Government’s report was due nine weeks ago.

He said the Government is yet to provide a clear account of the extent of damages and devastation and future plans for the people affected.

Opposition commends OC’s report

Pruaitch said if the Ombudsman had not investigated a 10-year Build-Operate-Lease-Transfer (BOLT) agreement, the National Government would have agreed to pay K981.79 million annually for Government accommodation it planned to build.

Pruaitch claimed that the annual lease payment would have been more than four times the total current office rental paid by Government if the negotiation had gone through.

Opposition calls on Gov’t to release funds

Opposition leader Patrick Pruaitch make this special appeal to Prime Minister Peter O’Neill in Parliament during the special sitting yesterday.

The Opposition leader Mr Pruaitch said the Government cannot continue plodding along at snail pace when days can mean the difference between life and death to those affected by the disaster.

He is calling on the Government to hear the cries of the people and act now to improve aid delivery and transparent funds management for this very exercise.

Pruaitch calls for Govt change

They warn of more serious socio-economic problems if the current regime is allowed to continue in office.

Leader of the Opposition, Patrick Pruaitch, warned that if the current political leadership in not changed, PNG will sink deeper into more serious problems than ever experienced before.

Pruaitch warned that the current unprecedented level of corruption, financial and economic mismanagement is far worse than the problems created by the former PNC Government under the late Bill Skate’s leadership, from 1997 to 1999.

Tentative dates for MPs’ contempt case

The trial will see Bryan Kramer, Sir Mekere Morauta, Patrick Pruaitch and Kerenga Kua answer to allegations of contempt that are being raised by Prime Minister Peter O’Neill regarding issues that were before the courts.

Twivey Lawyers today informed the Supreme Court there are seven distinct allegations leveled against each MP.

Only Vanimo-Green MP, Belden Namah, is yet to be served the contempt motion.

Pruaitch: 2018 Budget a ‘runaway train’

When debating the 2018 Budget on Tuesday in Parliament, Pruaitch said the Budget was fueled by huge budget deficits and soaring public debt, which the Government refuses to put on any safeguards or breaks to lessen the coming shocks.

“This budget is the most fiscally irresponsible budget presented in this House in all my years in Parliament.

“The fake revenue numbers in the budget allow the Government to lift expenditure beyond prudent fiscal levels which is a total disregard for fiscal discipline.