Arthur Somare

Questions put forward to him by the inquiry involve the IPIC transaction acquired in 2009 by the government when he was the State Enterprises Minister including the total revenue figures from the PNG LNG exports.

The main focus of the Commission of Inquiry is to investigate how a substantial amount of public money was lost in the UBS transaction, however the inquiry will also seek answers relating to the International Petroleum Investment company (IPIC ) loan, that was used to fund the PNG LNG Project.    

He said the people of Papua New Guinea need to know what happened to the fund.

“Eight billion Kina that belongs to the people of Papua New Guinea went missing,” claimed the PM.

“When we took over, there was almost zero balance in Government accounts. That is why we had to go into deficit budget to build new infrastructure around the country, to pay for our school fees, and to pay for our hospitals that our people deserve.”

With some 500 shipments done since 2014, total earnings should be around K88 billion. However, there was no show of any LNG proceeds in the 2015, 2016 and 2017 budget respectively.

“Where is Sepik’s share”, Former three term Angoram MP and State Enterprises Minister, Arthur Somare asked  in Maprik on Thursday when addressing a huge crowd  at the nomination of Maprik MP and Deputy Parliament Speaker, John Simon.

Somare was quoted in Loop PNG claiming that “The plight of the Gulf people's LNG benefit is not the work of the government.”

However, he said Prime Minister Peter O’Neill’s Government has continuously breached the PNG LNG Projects’ 2009 UBSA and LBBSAs and has failed to deliver the entitlements and rights of the Beneficiary Group Landowners as secured in the UBSA Benefits Package by impacted landowners and provincial governments in May 2009.

“Unlike any other provinces, Gulf Province has two LNG projects and potentially an absolutely fantastic prospect for the future.

This was the comment from former State Enterprise Minister, Arthur Somare, at Malalaua Station during the opening of the Kerema District Development Authority building on Wednesday.

During his one-day visit to the province by chopper, he pointed out that more work needed to be done. This should start with people cooperating with their leaders to see the delivery of basic services.

He told the people of Gulf Province that they needed a responsible government.

Somare also believes that benefits from the Project were going to be huge, once it kicks off.