Lae MP tells acting PM to explain Nasfund security

THE opposition has challenged Acting Prime Minister Sam Abal to explain how he can assure the 40,000 Nasfund contributors that their savings will be protected.
Lae MP Bart Philemon said yesterday it had been 14 months since the K125 million saga came to light and four months since the media picked it up.
“How long and how many more reports are to be handed in before he (Abal) makes a statement to the 40,000 contributors and seven million people of this nation?” Philemon asked.
He said he had asked the question during the May session of parliament and was assured by the acting prime minister of a statement to parliament which had not been done.
“I again asked the treasurer and finance minister on June 7 on when he will make a statement and he assured the House that the acting prime minister will make that statement,’’ he said.
“I was going to ask the question again last Friday but the government adjourned parliament and ran away.”
He said if Abal was so concerned about the 40,000 contributors of Nasfund, as he stated in the media yesterday, “then, what else does he need before he makes a statement whether the deal is illegal”.
“I am sad to see Abal was present when cabinet made the decision to approve this scam retrospectively after they had done it illegally without cabinet approval,’’ he said.
“Is this the way to protect contributors’ funds through retrospective decisions? Abal has to explain and why take all this time,” Philemon said.
He asked whether Abal was only concerned about the 40,000 people contributing to the fund.
“What about the seven million people of this country who are going to repay the loan?” he asked.