MARAPE ON UBS LOAN INQUIRY

https://papuaniugini.org/

MARAPE ON UBS LOAN INQUIRY
By Jerry Tave (Parliarment) – NBC News
//////////////////////////////////////////////////////////

Prime Minister James Marape admits the controversial 3-Billion Kina plus Union Bank of Switzerland or UBS loan transaction, of which he’s implicated, is much deeper than indicated in the Ombudsman Commission Report.

The previously leaked Report was tabled in Parliament last year, implicating high profile figures like former Prime Minister, Peter O’Neill, Government’s Chief Secretary Issac Lupari, Treasure Dairi Vele, KPH Managing Director Wapu Sonk, Philip Eludeme, and Carl Okuk.

Mr. Marape told Parliament yesterday, the leadership watchdog did not look at the criminality and legality of the entire transaction and urged police to now investigate.

“I as someone named in the report did not stand in the way as Prime Minister stopping the report from progressing.

“I place on record, I was a willing leader to allow this report to come through cabinet which I chaired, and to come into Parliament that I lead as leader of the government to ensure that this report is tabled.

“Knowing fully well that my name is also found by Ombudsman Commission to have played a part in the UBS transaction as Finance Minister.

“I take my mandate and cue from cabinet when I subscribed to cabinet directions and in the two instances that I involved in the UBS transactions after Cabinet’s approval.

“But I can’t dwell further in this one because I will present my case before the inquiry that is on foot.

“I walked out from the government I was part of because decent I felt was not in the best interest of the country, but once is OK twice is OK but in the total picture consistently going against the grind of public interest is not right, ” Marape told Parliament.

Meanwhile, the Prime Minister has defended the 28 million Kina in taxpayer’s money in funding the public inquiry into the UBS loan scandal, saying it’s worth it.

Deputy Opposition Leader, and Rabaul MP, Dr. Allan Marat had questioned an expensive Commission of Inquiry, when a Report on the UBS loan was already tabled by the Ombudsman Commission.

In response, the Prime Minister said a public inquiry will be able to investigate the issue more broadly, and put the matter to rest.

”28 Million Kina in the context of misapplication of people of Papua New Guinea’s money to the tune of 3 billion Kina.

“What is 28 Million Kina against 3 Billion Kina? The case in point that UBS Commission of Inquiry will establish as part of the terms that we have assisted Commission set up is to look at the entire chain from the moment the fund was procured, and what circumstances that gave rise to the procurement of that fund from UBS, up until the final conclusion where the last Toea went, Marape highlighted.

NBC News- Jerry Tave (Parliarment)

Ends//
//////////////////////////////////////////////////////////


4 thoughts on “MARAPE ON UBS LOAN INQUIRY

  1. PMJM is doing the honorable thing by funding the CoI into the UBS Loan so that the very sensitive matter of National interest be put to rest once and for all. Unlike, his predecessors he (PMJM) is fearless and very courageous to bring up the matter despite being named in the UBS Loan report. One thing that is bothering me is the comment lashed out by Deputy Opposition Leader Hon. Dr Allan Marat pertaining the K28m funding of the CoI. I wonder if he is not interested to know the outcome of the CoI and the parties involved to be implicated. Whose interest does that comment represent while the Nation wishes to know how their resources have been used.

  2. Ikan, with the current Marape-Steven government, what are your general thoughts and observations about the way they are conducting businesses of running the nation?

    1. My personal observation, Marape-Steven government, within the last few months of their administration, they lead with truth and integrity comparing to the previous Oneil-Abel government, who continued to lie to the people of Papua New Guinea. One thing unique about the current Prime Minister James Marape is that he begins to do things that is of public and of national interest, publicly and honestly. God Bless Papua New Guinea.

Leave a Reply

Your email address will not be published. Required fields are marked *