Pruaitch: LEDL funds are for projects

LOG export development levy (LEDL) funds held under trust at the department of finance are for agriculture and infrastructure projects in log exporting provinces, Patrick Pruaitch says.
Pruaitch, the minister of forests and climate change, said this in response to Vailala Purari Block 1 Timbers Ltd chairman Alfred Kehela’s statement claiming he had been pursuing the LEDL funds for more than a decade.
“The LEDL Trust was set up by a trust instrument on July 10, 2007, and is not even 10 years old for Kehela to say he had been pursuing LEDL funds for more than a decade,” Pruaitch said.
He said landowner company directors should know that they represented the interests of their shareholders to seek truth and conduct their affairs accordingly.
“In this instance, Kehela is probably agitated over something other than the LEDL,” he said.
“However, I am aware and have discussed with the prime minister the concerns with abuse of LEDL funds.
“We are working on a workable and acceptable arrangement to ensure the intended purpose of the trust is achieved for the benefit of the people.”
Pruaitch said as soon as legal clearance from the state’s legal office was obtained, cabinet would be asked to consider the proposal for the rearrangement of the management of the trust.