Bulolo district gets 20% forestry equity

THE state through the Independent and Public Business Corporation (IPBC) has transferred 20% of the state equity in the PNG Forest Products to the people of Bulolo which will be used to start up a sustainable development programme in the district.
Deputy Prime Minister and Forest Minister Belden Namah said during a press conference yesterday that the government had agreed to transfer the share equity in the fine tree plantation to the district.
He said the government wanted to see the transfer of equities in projects back to the districts to allow them to use the benefits to develop their district.
Namah said Minister for State Enterprises, Sir Mekere Morauta would do the formalities of the transfer.
Member for Bulolo and Minister for National Planning Sam Basil thanked the government for the “visionary” decision to transfer the state equity to the districts.
He said after many years the government had seen the need to give back to the people and that the decision would be widely applauded.