KPHL subjects to public scrutiny, says Sir John

By LUKE KAMA
KUMUL Petroleum Holdings Ltd is still subjected to public scrutiny through the public accounts committee (PAC) as it deals with money and properties belonging to Papua New Guineans, PAC chairman Sir John Pundari says.
Sir John was responding to a statement by the national oil and gas company (NOC) that it was a Government business governed by its own legislations.
The NOC responded to a statement by PAC to inquire into its operations.
KPHL chairman Andrew Baing said Sir John had erred in his statement published in the The National on Wednesday about PAC inquiring into the operations of KPHL.
“Kumul Petroleum is a government business governed by its own legislations and it does not subject itself to the Public Finance Management Act,” Baing said.
“The purpose and mandate of the public accounts committee is to look into agencies and government instrumentalities that receive budget support from the national budget under which the operations of the Public Finance Management Act becomes applicable.
“Kumul Petroleum does not get budget support from the national budget, hence the company’s finances and books do not qualify as ‘public accounts’ of the State or public money and properties of the State,” Baing said.
However, Sir John said KPHL was a company that was managing the money and properties worth billions of kina belonging to the people of PNG and was still subject to public scrutiny through the PAC.