The National, Tuesday, June 7th 2011
THE member for Kokopo has defended the K125 million from Nasfund for development projects in his electorate as legal and said no laws were broken.
However, the finance minister and NRI director Dr Thomas Webster said otherwise.
There was no parliamentary or NEC approval.
Workers are affected by this huge transaction and they cannot stay silent.
Nasfund joint CEOs Ian Tarutia and Rod Mitchell, who are trustees of the members’ money, have to come out and clarify the issue.
When such commitments are made without parliamentary or NEC approval, it becomes a private commitment between Kokopo district and Nasfund.
Where will Kokopo find that kind of money to repay?
From my understanding, the government will only make repayment if there is a parliamentary or NEC approval.
Nasfund members are likely to face the same fate as some years back under Jimmy Maladina’s chairmanship.
This case is still outstanding but no one has done anything to prosecute those involved in this scam.
Tarutia and Mitchell must organise a forum for all employee representatives to clarify and clear any doubt as to how they plan to recover the K125 million.