Probe into UBS loan resumes


THE Commission of Inquiry into the Government’s decision to obtain a K3 billion loan from the Union Bank of Switzerland (UBS) will resume public hearings next week.
Chief commissioner and inquiry chairman Sir Salamo Injia and commissioner Margaret Ao, in a statement, said the hearings would be held at APEC House in Port Moresby on March 30 and 31.
The hearings will be open to the public subject to the Covid-19 requirements.
Audio and video recording and transmission and the use of cameras and other equipment to take photographs will be permitted in the hearing room for opening statements only.
The commissioners and the senior counsel Dr James Renwick will make opening statements.
The commission will be hearing evidence relating to:

  • INVESTMENT in State-owned enterprises;
  • THE State’s participation in private enterprise; and,
  • METHODS of financing such investment or participation.

Any applications for leave to appear in relation to the hearings are to be filed with the commission secretary by no later than 5pm on Wednesday (March 24).