Official calls for audit

Business

THE Livestock Development Corporation wants an audit conducted into the K10 million budgeted last year and the K10million for cattle breeding under the Medium Term Development Plan III.
Project manager and chief executive officer Terry Koim has recommended to the secretary for Agriculture and Livestock to audit the funds which were supposed to be given to the corpopration. “When I came in, I saw that they received K10 million,” he said.
“I have been following the records but they only bought 170 cattles.
“The records for the rest of the money are with LDC and DAL.
“We need to conduct an audit to know what happened to our money.”
He recommended the audit after the Department of National Planning and Monitoring recently asked for the report.
Koim noted that funding and misuse of funds was a factor in the livestock sector.
He said the way forward was to roll out the LDC’s national livestock strategic development plan.
“Recoup and repossess all LDC-owned land, ranches, abattoirs, piggeries, hatcheries, ponds, waterways, residential properties from other state agencies or private hands throughout PNG.
“We are currently discussing commercial partnerships with interested but reputable beef and lamb companies in Australia and New Zealand to develop our industries.”