Govt should treat groups collectively: Somare

Business

THE Government should treat all beneficiary groups collectively in dealing with the contractual 4.27 per cent equity in the PNG LNG project, Resource Logistic Solution adviser Arthur Somare says.
He made the comment following a presentation on the option which allowed beneficiary groups to purchase direct equity in the PNG LNG project under the Umbrella Benefits Sharing Agreement (UBSA).
“The wording in the UBSA and the UBSA is the principal document that we have to work with and the wording in regard to this is on a fixed and undivided basis,” he said.
“It basically means it’s all in or nothing at all.
“So everyone has to agree to buy together.
“KPHL cannot play the divide-and-rule tactic.”
He said the “fixed and undivided basis” meant it was all or nothing.
“So you cannot compartmentalise – such as taking the landowners from the plant site alone and do a transaction,” he said.
“It has to be whole of the 4.27 or nothing.”
Meanwhile, the Government had further extended the deadline for the acquisition by landowners of the Kroton Equity to December 31. It enabled representatives appointed by beneficiary groups to commence due diligence assessment on the purchase proposal.
The beneficially group involves five provincial governments – Hela, Southern Highlands, Central, Western and Gulf – plus the landowners in the LNG.
Cabinet on June 6, 2016, approved the plans to sell down 4.27 per cent of its equity, in accordance with the Kokopo UBSA.

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