PM welcomes information to assist in UBS loan inguiry

PRIME Minister James Marape, pictured, will welcome any information from Australia to assist in concluding the commission of inquiry (COI) into the Union Bank of Switzerland (UBS) loan.
He was responding to questions on whether PNG would be requesting Australian regulators for information as part of the inquiry into the K3.98 billion (US$1.2b UBS) loan.
“When the COI is set in place, and we have instrumentalities of government to have those exchanges going on so when the need be, those requests will be finalised through the correct procedures and protocols required of it,” he said.
“We would very much welcome any information that can be obtained within Australia to assist in coming to a conclusion as to what transpired in the infamous UBS saga.”
Marape said the Government was setting up a commission of inquiry and the report put together by the Ombudsman Commission was tabled in Parliament in the past session.
“We are setting up an inquiry and our Parliament was privy to the report that was done by the Ombudsman Commission that really was more geared towards ascertaining the level of involvement by those of us who subscribe to the leadership code,” he said.