Superfunds welcome Supreme Court decision

THE Authorised Superfunds of Papua New Guinea (ASFPNG) welcomes the Supreme Court decision to proceed with a case file by Opposition Leader Belden Namah to have the super tax charged by the State on two major companies declared unconstitutional.
ASFPNG president Ian Tarutia said their position on the issue remained the same.
“We have always been against the imposition of the Market Concentration Levy which affects BSP’s profitability and returns to its shareholders,” Tarutia said.
“Its (BSP) large shareholders are the superfunds who represent PNG workers.
“We respect the court process and look forward to the outcome in due course.
“We welcome the Supreme Court’s decision to hear the case.”
Chief Justice Sir Gibbs Salika, Justice David Cannings and Justice Daniel Liosi ruled on Wednesday that there were no issues in granting a standing order on Namah’s case as he remained the Opposition Leader until the return of writs on Aug 12.
“The applicant is granted standing to bring this matter for hearing in court,” Sir Gibbs said.
He said Namah was a citizen with a genuine political concern about the matter, and that he was the current leader of the opposition and took care of the public office.
Namah’s lawyer Greg Sheppard said Namah was the opposition leader and was expected to raise issues of concern at the national level.