Thursday, May 18, 2017

K160m banknotes hijacked in Indonesia and make its way back to Papua New Guinea.

In the next installment of a James Bond-like, high-seas theft, the Bank of Papua New Guinea has warned that K160 million in paper banknotes, which it had designated to be destroyed, has been hijacked and some has found its way back to the country from Indonesia. 

So far, of the total amount, only K1 million has been recouped. The notes, in denominations of K2, K5, K10, K20, K50 and K100, were sold to a recycling company in Europe in 2013. They were loaded into a container for shipment to Europe but the container was stolen.

Its believed high officials from Papua New Guinea been involved in this money theft. And the money is believed to be used in running campaigns in 2017 general elections 

Monday, May 1, 2017

An Insight Into Papua New Guinea National Budget

By Mathias V Lasia

"You NOT Voting for PNC candidates is a ticket for O'Neill, Marape and Dairi Vele to finally make it to BOMANA when a new Government is formed*"
PNG has recently made the headlines across the globe for being in a financial debt crisis and struggling to pay its debts and expenses.
It is no secret the O'Neill Government has had cash-flow crisis and only managing to keep its head above water. 

What little tax income it earns each month is being used to ensure public servants are paid every fortnight and any difference is directed to propping up its free education policy and partly pay for its inflated contracts.

Meanwhile Peter O'Neill claims the country's financial crisis has been caused by dramatic fall in world commodity prices placing a strain on economies around the world.

So is Peter O'Neill telling the truth? Short answer is No.

The PNG Government funds its operations, development projects and services its debt obligations through the collection of taxes and overseas grants (donor funding). Tax collection or revenue is categorized into three main parts.
1) Tax on Income and Profits (company, wages tax etc)
2) Tax from Goods & Services (GST etc)
3) Tax from International Trade (import & export taxes).

Included in tax on income and profits is Mining & Petroleum tax which relates to taxes imposed on mining and petroleum companies who earn large profits from the sale of natural resources; gold, silver, copper, oil and gas etc to overseas markets.

Friday, February 24, 2017

A 117 years old Village Councilor, Cr Itokon Yai from Itokon tribe of Lower Lai LLG of Wapenamanda District, Enga Province of Papua New Guinea

Giant Yakuman and Itokon tribes of Wapenamanda were once under his directorate for over 15 years. Later, Yakuman had their own councilor while Itokon tribe was under this man for almost 35 years. A peace loving leader of all time. A leader to remember.  

Monday, February 20, 2017

Set for freedom from the Human Zoo: Three men from Wapenamanda in the Enga Province have been acquitted from murder charges at the Waigani National Court.

By Sally Pokiton, PNGLOOP
17:13, February 3, 2017

The suspects, Jeffery Pitu, Jacob Lais and
Newman Upas were charged with the murder of their relative, Matthew Masket on Feb 22, 2015.

Justice Panuel Mogish today acquitted them of the charge because he was of the view that Masket died as a result of the impact of the car crash at the tunnel between Stop N Shop and the RSPCA clinic.

He said this was a case of “who to believe” which the State did not prove beyond reasonable doubt.

State had alleged that the Masket was killed earlier at Sabama where they had been drinking and the accident was a cover-up however Justice Mogish said the link of being killed at Sabama and later driven to the crash site did not add up.

Friday, July 29, 2016

A Chinese firm buys 50% of Porgera Gold Mining in Papua New Guinea

By Lungu Roxi, The Enga Politics Page, Facebook (28/07 /2016)
A 50% of Porgera Gold Mine Sold to a Chinese firm for $298million – Why couldn’t Enga Provincial Government (EPG) buy it when Enga Children's Fund (ECF) is over K800million worth in market capitalization?

In the time of Michael Somare as PM, it is believed that the EPG in association with several key Porgera Landowners (PLO) deposited K50 million in an Australian bank as term deposit to secure loan for the full amount to buy off 50% of the equity from Barrick.

The K50million is believed to be taken from Mineral Resources Enga (MRE) which manages the 2.5% EPG equity and 2.5% PLO equity in the Porgera Gold Mine (PGM). From the outset it sounded a great strategic move to increase stake in the PGM for the benefit of Enga people.

During the reign of Somare, Sam Abal was the Deputy PM and Don Polye Treasurer, were the key figures in the kitchen cabinet. It was rumoured that these two Engan MPs intercepted the deal to buy the 50% shares in PGM and discovered so much rot where certain individuals were to immensely benefit from the deal at the expense of the Enga people.


By Stanley M (Former National Parliament Staff) post on PNGBLOGS
Many people were wondering this lawyer-philanthropist-come-politician has standing in the nation, worthy of the bible verses he nit-picked on Friday 22nd July to sway the support of Members to Peter O’Neill. He argued that the judiciary was unconventionally interfering with the functions of Parliament and so Parliament had to put up a similar fight.

But not many are aware of the past of Kelly Naru, a rich lawyer who was dubbed by many as a philanthropist. He dished out cash to people in need prior to becoming a politician. Was he genuinely generous or was it a vote buying bribery exercise he was carrying out prior to standing for public office? Interestingly, all those generosity ceased since he became the Governor of Morobe.

Where did Kelly Naru get all those monies from? We know lawyers do make a lot of money but we also know that some of them make money through illegitimate means like the controversial Paul Paraka.

Sunday, July 24, 2016

MRDC responds to allegations of funding the Government camp in Alotau

BY: Anonymous, PNGLOOP
10:02, July 24, 2016

The board of the Mineral Resources Development Company has slammed allegations made by Sinasina-Yongomugl MP Kerenga Kua on the FM 100 Talk Back Show last Wednesday (July 20).

“It is with much disappointment that the Board of MRDC is placed in a position where it is forced to respond to comments implying that the managing director of the Company withdrew funds, which are under trust management arrangements, for purposes of facilitating the Government’s meetings as well as the political developments in the last seven days,” MRDC said in a statement.

The Company “rejects outright the allegations made against the office of the managing director which are baseless and devoid of any truth. Furthermore, the Board reserves its right to seek legal redress for the slanderous and defamatory allegations levelled against the Company”.