Clans promised shares

Main Stories

LANDOWNERS and provincial governments in the PNG-LNG project areas will receive huge benefits from the announcement by the Prime Minister Peter O’Neill that the Government will negotiate to transfer 25 per cent of Kroton shares as free carry.
The same was done with Ok Tedi Mine Limited when shares were transferred to the people of Western, and with Bougainville Copper Limited (BCL) when shares were transferred to the people on Bougainville.
Making the announcement in Tari yesterday, O’Neill said giving those shares to the rightful owners was fair and just.
“Today I am announcing that the national government will transfer 25 per cent of Kroton shares, which is 4.2 percent  indirect interest in the PNG LNG project,” he said.
“The shares to be transferred to landowners and provincial governments in Hela, Southern Highlands, Gulf, Western and Central province are valued at K3.5 billion,
“Our Government is providing 25 per cent of Kroton shares to landowners and beneficiary groups that should rightfully be receiving benefits from the PNG LNG project.
“These shares will enable the landowners and communities and the provinces to secure a
better future and to be more self-sufficient.
“This Government has made it our business to correct bad decisions from the past,
particularly when this relates to land ownership.
“I was not a signatory to the initial Umbrella Benefits Sharing Agreement in 2009, but I have made sure that our
government does the right thing by our people today.
“This in the same spirit as the transfer of 17.4 percent of BCL shares to the landowners and people of Bougainville by the national government.”
“It is the same as the transfer of 33 per cent ownership in Ok Tedi
Mine Limited to the people of Western.
“Our Government is working for the people who have been disadvantaged and had been left to fend for themselves.”
Meanwhile, O’Neill has urged the people of Ialibu Pangia living in Port Moresby to vote for a Peoples National Congress party candidate if they cannot make it to their electorate to vote for him.
O’Neill, who was at the Morata settlement in Port Moresby on Tuesday to rally for Moresby North-West MP and Health Minister Michael Malabag, told the thousands of people who gathered there, especially those from his electorate, to vote for Malabag and other PNC candidates.
“I know many of you will not be able to make it to Ialibu Pangia during the polling to vote for me but you must all know that PNC have candidates in NCD like Malabag, so vote for him,” he said.
“If you vote for Malabag, you must know that you are voting for me because Malabag will represent you to make me to form the next government to become the prime minister.
“If you have a first preference for a candidate already, then give our PNC candidates your second and third choice.”
He assured the people of Morata settlement that the focus of his government will be to bring changes to the settlements.
“We have many challenges still in Port Moresby to those of you especially living in settlements,” O’Neill said.