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Parliamentary committee announces ToR

A recent ruling on a vote of no confidence challenge may see the next government complete a term in parliament.

UBS can no longer ignore its past misdeeds If UBS chooses not to engage with the PNG royal commission, it will almost certainly find the $1.3 billion loan was unconstitutional, charged excessive interest and was “false and miss-leading”. Jul 16, 2021 – 3.29pm Save Share For the past four months, a royal commission into an eight-year-old deal most Australians have never heard of, in a country that rarely rates a mention, has been quietly chipping away. James Renwick, counsel assisting the royal commission, has outplayed UBS.  Forced online by COVID-19, the inquiry into a $1.3...

According to TI PNG's Chairman Peter Aitsi, his group is putting the government on notice. Transparency International PNG's Peter Aitsi Photo: Transparency International PNG The inquiry is into a loan by the government of about $US1.2 billion dollars to buy shares in Oil Search, the largest oil and gas exploration and development company incorporated in PNG. The deal, which was broked by Sydney-based consultants of the Zurich-based investment bank UBS, led to a net loss of $US432 million. UBS reportedly profited around $US83 million in fees, interest and trading revenue from the deal, The co...

Don Polye (right) on the PNG election trail Photo: Supplied/ Wanpis Ako After Polye narrowly lost his Kandep seat in PNG's 2017 election, he challenged his rival Alfred Manase's victory on the basis of irregularities during the vote count process. A number of ballot boxes from wards where support was usually strong for Polye were excluded from the vote count. A court-ordered recount of the election, including the ballot boxes that were earlier discounted, was conducted amid tight security in Eastern Highlands earlier this year. Polye scored 22,237 votes to 21,033 for Manase, the candidate fo...