Pruaitch: Blame game pathetic

NATIONAL Alliance (NA) party leader Patrick Pruaitch has branded the attempt by People’s National Congress (PNC) party leader Peter O’Neill to shift blame for his Solwara One loan misadventure to the former NA government as “pathetic”.
Pruaitch, the Aitape-Lumi MP, said while the Somare government signed off on the state equity option for Solwara One in March 2011, it was the O’Neill government through Petromin that organised and paid Nautilus Minerals K375 million, which had now been refinanced on more favourable terms.
Pruaitch said it should not be forgotten that it was the O’Neill government that attempted to renegotiate terms on the Solwara One project, ending up in an arbitration case that it lost.
He said the delay could have proved a fatal blow to Nautilus.
“It is no coincidence that the infamous K3 billion UBS loan and the Solwara One loan were organised by the O’Neill government within months of each other at a time when government revenues were running at an all-time high,” Pruaitch said.
Pruaitch, who is Minister for Foreign Affairs and International Trade, said there could not be a sharper contrast between the economic policies and fiscal strategies of Sir Michael Somare and O’Neill.
O’Neill in response to Pruaitch’s claims said: “Patrick Pruaitch and I agree that the Solwara (One) project was approved and signed off by the Somare government in March 2011.
“Then our government, of which Patrick Pruiatch was a minister at the time, had to source financing to fund this legally enforceable state commitment,” O’Neill said.
“The current Treasurer Ian Ling-Stuckey is getting his information wrong and twisting fact to create fake news.
“Our government, including Patrick Pruatich as Treasurer, are proud of the way in which we managed debt and built major critical infrastructure in the country.
“This is a stark contrast to the current Treasurer in this Marape Government.”