Commission recommends O’Neill to be prosecuted for K3 billion UBS loan
News that matter in Papua New Guinea
Commission recommends O’Neill
to be prosecuted for K3 billion UBS loan
PORT MORESBY: The K30 million state-sanctioned inquiry has
recommended that former prime minister Peter O’Neill be prosecuted for giving
false information, and that he be referred to the Independent Commission
Against Corruption.
The report into the K3
billion loan obtained by the Government in 2014 from the Union Bank of
Switzerland (UBS), also recommended that O’Neill and then Treasury secretary
Dairi Vele be both referred to the Leadership Tribunal too.
The report was tabled in
Parliament yesterday (April 20, 2022) by Prime Minister James Marape, stated
that O’Neill was “centrally responsible” for the UBS loan, and that Vele was “indispensable
in assisting him in that endeavor”.
The commission, which
completed its work after two years was chaired by former chief justice Sir
Salamo Injia.
PNG Cyber Monitor reproduces below reports published by The National:
O’Neill accused
April 21, 2022The NationalMain Stories
A STATE-sanctioned inquiry has
recommended that former Prime Minister Peter O’Neill be prosecuted for giving
false information, and that he be referred to the
Independent Commission Against Corruption.
The report by the Commission of Inquiry into the K3 billion loan obtained by
the Government in 2014 from the Union Bank of Switzerland (UBS), also recommended
that O’Neill, and then Treasury secretary Dairi Vele, be both referred to the
Leadership Tribunal too.
The report, tabled in Parliament yesterday by Prime Minister James Marape,
stated that O’Neill was “centrally responsible” for the UBS loan, and that Vele
was “indispensable in assisting him in that endeavour”.
The commission, which completed its work after two years was chaired by former
chief justice, Sir Salamo Injia.
The commission also accused UBS of “overcharging” the PNG Government by more
than K400 million (about AU$175mil).
“UBS is solely responsible for overcharging and any misleading or deceptive
conduct,” it said.
“They should be asked to repay the amounts overcharged, and both the PNG and
Australian authorities should consider whether civil or criminal sanctions
should be sought.
“UBS should be banned from doing work for the State (PNG) and any state-owned
enterprise for 10 years.”
O’Neill yesterday said: “I am here today and I will not be going into hiding or
walk away.
“I will stand and face it (any action taken against him).”
PM: Repay PNG K460
million
April 21, 2022The
NationalMain Stories
By REBECCA KUKU, LULU
MARK and LULU MAGINDE
THE Union Bank of
Switzerland (UBS) Australia overcharged the PNG Government by AU$175 million
(about K464 million) which must be reimbursed to the State, it has been
revealed.
Prime Minister James Marape revealed this in Parliament yesterday when tabling
the Commission of Inquiry report on the UBS K3 billion loan in 2014.
Marape said the inquiry found that the then government led by his predecessor
Peter O’Neill had failed to follow proper processes, “coupled with the speed
with which complex documentation was produced meant no one within the public
service understood the overcharging of the State by UBS”.
“The UBS loan had no satisfactory justification or rationale,” he said.
“It declared that there was no strategic interest in obtaining new Oil Search
shares in 2014.
“In addition to its sizable fee of AU$28.4 million (about K73 million), UBS
also benefitted from the refinancing of the collar loan in December 2014 and
February 2016, and from the ultimate sale of the shares in September 2017.
“Its total overcharging amounts to AU$175 million, and should be made to repay
the amount.”
Marape said the lawyers retained by the State did not advise it properly of the
potential conflict of interests and how to manage them.
He said the officer responsible for the NEC policy submission “failed to set
out the downside to the proposal and the false statement that the then treasurer
agreed to the submission contents”.
“The then prime minister knew the submission was complex and lengthy but did
not provide the NEC advance notice or the real opportunity to debate the
submission during the meeting,” he added.
“The meeting lasted less than an hour.
O’Neill questions inquiry commission’s
credibility
FORMER prime minister
Peter O’Neill has questioned the credibility of the commission of inquiry into
the United Bank of Switzerland (UBS) K3 billion loan, saying it was also the
most expensive ever in the country.
He called the three-year inquiry, costing K30 million, a political witch-hunt,
with a lack of independence in appointing the commissioners from day one.
He also questioned the timing of the tabling in Parliament of the commission’s
report “just 10 days from the writs being issued”.
He said: “The report says that I am responsible for the UBS loan.
“That is correct.
“I am responsible and have never shied away from my responsibility in this
regard.
“I fulfilled my role as prime minister and head of Cabinet.
“But I am disappointed that the (commission of inquiry) has been highly
politicised with regular public commentary made by Prime Minister James Marape
encouraging some negative findings against me.”
O’Neill said the commission had been “influenced by gossip, and the
investigations done were personalised with an unwarranted level of scrutiny of
private individuals and private companies”.
“Nothing was found despite the intensive investigations.”
According to the report, O’Neill was “centrally responsible for the UBS loan
and should be prosecuted for giving false evidence to the commission, and must
be referred to the Independent Commission Against Corruption (ICAC)”.
But O’Neill said there could a “serious conflict of interest” as the chief
commissioner and (commission) chairman had been replaced as chief justice by
his government.
“He has now chosen to believe the word of unreliable witness, infamous Jimmy
Maladina, against my testimony and has subsequently recommended that I be
referred to ICAC,” O’Neill said.
“I intend to test this in court because there is no collaborating evidence to
support the claim by Maladina that he was a witness to an alleged meeting of
some sort.”
O’Neill said he hoped that his statements and recommendations to the commission
of inquiry be made public so that people could form their own opinions.
“I think our people will judge this Government for its lack of action – burying
our country in debt and leading our people into high costs of living,” O’Neill
said.
K3 billion loan deal most brilliant scam ever,
says Bird
EAST Sepik Governor
Allan Bird has called the Union Bank of Switzerland (UBS) K3 billion loan deal
as the most brilliant scam ever concocted in the nation’s history.
Bird said it was the deliberate game plan of former prime minister Peter
O’Neill “to scam and defraud the people of PNG”.
“There is more integrity at buai markets than on this floor because we lie all
the time,” he said.
“Enough is enough of making stealing look appealing and thinking you can get
away with it.
“This behaviour needs to stop and all the recommendations in this report need
to be carried by this house.”
Bird said too many lies had been voiced in Parliament since 2014 and in
cabinet, so someone must be held accountable.
“He claimed that when Oil Search was in trouble, ‘they somehow knew that
somebody was going to bail them out’.
“Six days before the National Executive Council had made their decision, which
meant that they had an insider within the government (who) leaked confidential
information,” he said.
“We should all be ashamed because we allow similar deals to pass through our
government and country.
“Within cabinet in future, the prime minister or his deputy, should not be
allowed to sack his treasurer so that he can sign the documents himself. There
should be penalties introduced for this.”
Bird also suggested that future speakers of the house must enforce strict rules
on those who lied in Parliament.
“Many times we tell lies on the floor but are not penalised for it.
“Some are even rewarded because of it,” he said.
Attorney-General must file reference to
establish legality: Steven
Member for
Ialibu-Pangia Peter O’Neill and member for Koroba-Lake Kopiago Petrus Thomas at
the Parliament yesterday.
THE Attorney-General
must immediately file a Supreme Court reference to establish the legality of
the Union Bank of Switzerland (UBS) K3 billion loan, says Esa’ala MP Davis
Steven.
Steven, a former justice minister and attorney-general, said action must be
taken to implement the recommendations of the commission of inquiry report.
He said the commission recommended the need to amend the constitution by way of
an Organic Law.
“If what I am reading is right, the practice since independence has been to go
ahead and get the loan without any prior approval of Parliament, then each
former prime minister is guilty,” he said.
“We are pointing fingers but I am worried because the commission has actually
found that the State practice favoured the view that prior approval of
Parliament is not necessary.”
He said “we can send a very clear picture or signal to our people that we want
action by insisting that Section 19 authorities make direct instructions to the
solicitor general immediately for this Supreme Court reference to be filed”.
The Section 19 authorities are the speaker, prime minister, attorney general
and opposition leader.
“A reference will clearly establish whether the UBS loan was lawful or
unlawful,” he said.
He said Prime Minister James Marape and his predecessor Peter O’Neill had
assured the people that the next government should be committed “to reform,
action, passing laws and prosecuting”.
“But there must be instruction given to the Solicitor-General right now for
recovery action – the word is restitution,” Steven said.
Namah urges enforcement of inquiry’s
recommendations
OPPOSITION Leader
Belden Namah says the lack of enforcement and implementation after commissions
of inquiries are completed must be addressed.
“If there was any culpability in this (UBS K3bil loan) report, ministers who
were in that cabinet at that time are equally culpable because they had the
opportunity to stop this loan from proceeding,” he said.
“It’s not about how many laws we can pass. It’s about the implementation of
those laws.
“Enforcement is lacking in this country.”
He said there was no point in debating the commission of inquiry report into
the UBS K3 billion loan because those in Cabinet then did not resign, “as they
had already participated in it”.
He also suggested that the leadership code which MPs were hiding under should
be removed so that everyone is subjected to criminal proceedings under the
criminal code.
“Let’s be realistic and stop pointing fingers at each other because we are
hiding under it.
“We are all thinking here that the former prime minister is culpable for his
actions but you have to be very careful as to where the crime starts,” he said.
“If they (cabinet ministers at the time) had the opportunity to stop it, then
they should have. And if the prime minister at the time didn’t listen to them,
then they all should have resigned.”
He praised then Treasurer Kandep MP Don Polye for being the only minister to
resign.
Too much power vested in prime minister leads
to suffering: Polye
TOO much power is vested in the prime minister
which has led to decisions made which hurt the nation, says Kandep MP Don
Polye.
Contributing to the debate on the Commission of Inquiry into the UBS K3 billion
loan report, he said the power must be shared.
As someone who has been an MP for more than 15 years and served on both sides
of the house, Polye said the country’s prime minister had more power that his
counterparts in other countries.
“One person is vested with so much power (and) that power must be shared,” he
said.
He also said public servants must be the custodians of good governance and
stewardship.
Department secretaries, managing directors and chief executive officers of
entities must be responsible people who have integrity, and be custodians of
the rule of law and good governance.
“There are some systemic and systematic things that we must do to restructure
this country, governance and democracy,” he said.
“We are pointing fingers, but I do not want to, because even if you put another
person into that position, they will do the same thing because the systemic and
systematic structure that we are working with does not serve the country’s
interest.”
Polye suggested that there should be a restructure of Parliament to include an
upper house which can scrutinise the decisions of the lower house.
He said doing things which were in the best interest of the country was
tantamount to corruption.
Comments
Post a Comment