Kerenga Kua

PNG Loop 5@5

Advisors and consultants are major beneficiaries of LNG project: O’Neill

O’Neill revealed this today at Parliament during Question Time with a question from Sinasina Yongumgl MP Kerenga Kua.

Kua was asking about how secure the country’s economy from the PNG LNG project revenue was as mentioned by Finance Minister James Marape in the previous parliament session in 2015.

“Minister for Finance James Marape has assured the parliament that the gas price was locked in a foreword sales gas marketing agreement and that any decline in prices will not impact the revenue,” he said.

MP Kua gives to landslide victims in Chimbu

The landslide occurred during torrential rain, when the father was away in a nearby village.

Kua expressed shock at the natural disaster and cautioned the locals to build their houses on hilltops where the geographical location is not vulnerable to landslides.

A young mother and her infant daughter including a small girl died when debris from a massive landslide covered their house last Friday night in Mikai village near Kundiawa town.

The deceased were identified as Bospe Paul and the girl as Nana,  while the infant's name was not disclosed to the media.

Kua alludes to financial disaster looming

He said Papua New Guineans will soon pick up the pieces of this colossal financial disaster come March 13, 2016 when the UBS (Union Bank of Switzerland) collar loan facility matures and falls due.

Kua in a statement said the government would need to repay this debt by settling the A$900 million (K1.8 billion) to UBS or refinance the current existing facility with an additional and more expensive short-term debt facility.