Uncover KPHL’s underlying truth

IT will be interesting to know how Kumul Petroleum Holdings Ltd (KPHL) was capitalised and nominated to be the state’s equity and revenue account vehicle in petroleum investments – from start-up capital by the State, through borrowings or cash injection from the national budget.
It is hard to come to terms as to why the management and the board are hell burnt to conceal all their transactions before the parliamentary Public Accounts Committee (PAC).
They are not running a privately owned entity but a convenient bank account for the state’s revenue stream in brown field investments, to be parked and paid out to the stakeholders as required under its purpose of establishment.
The public is interested to know the balance sheet in terms of profit and loss statement, assets and liabilities and return on capital and investments.
The public needs to know the perks and privileges of board and management.
What critical services are outsourced and it’s costs.
Even any green field investments and risk exposure need to be made available for public scrutiny. Only the exposure will justify if the board and management of KPHL should remain or be sacked.
Let transparency and accountability prevail.

LG, concerned observer