Former treasurer tackles PM again on huge loan deal

The Prime Minister Peter O’Neill must come clean on the UBS loan deal says Opposition Leader Don Polye.

“I stand to support the call by the two former prime ministers, Grand Chief Sir Michael Somare and Sir Mekere Morauta, for O’Neill to disclose the terms of the USB deal to the nation and people of PNG.”

 Polye added that the picture is now on the wall as to why he was sacked as the treasury minister in 2014.

“It is public knowledge I was sacked as Treasurer in 2014 for refusing to sign off on the UBS deal. O’Neill announced at that time that I was sacked for creating political instability in Government. But now it is clear, I was protecting the interest of ordinary Papua New Guineans with the largest and most expensive commercial debt burden this country has ever seen.

The K3 billion UBS loan was taken out by the current government to buy back Oil Search shares.

Charles Yapumi