UBS Loan Inquiry

 He said this in response to criticism from the Opposition.

The COI was established to look into the processes and procedures used by former Prime Minister Peter O’Neill in 2014, in obtaining the UBS loan and related transactions.

“This will not be another inquiry that collects dust, but will be processed to punish those involved and claim damages.

The inquiry began on April 16 and once this is completed, a final report will be finalized and presented before Parliament. Those involved in the UBS Loan deal would be prosecuted.            

 “This inquiry is not time bound. I encourage people of PNG, it may seem that we are consuming time and resources but this is to establish one fact and that is no system of government must be used to siphon off peoples resources.”

Prime Minister Marape said more details into the controversial loan deal will be discovered during the inquiry.