AUSTRALIANS were asked to help with the management of the large inflow of revenue from the liquefied natural gas (LNG) project because Papua New Guineans do not trust each other, Public Enterprises Minister Arthur Somare said, The National reports.
“I’ve invited the Australians to look over my shoulders,” Somare told The National at
The meeting was held to discuss the establishment of sovereign wealth funds (SWFs) as a vehicle to manage revenue flows to the government from the PNG LNG project.
He said Papua New Guineans were quite capable of managing the inflow of large amounts of revenue from 2014 but, for purposes of accountability and transparency, Australians were invited to “look over our shoulders”.
“The involvement of Australians would also help to further boost PNG’s international credibility rating.
“Papua New Guineans also did not trust each other to manage the funds. Therefore, the involvement of Australians should allay fears of inappropriate application and expenditures ... I may not be around by then,” he quipped.
The official delegation to
In a pre-talks statement, Somare said the ministerial delegation would discuss possible Australian assistance for the creation of a transparent governance regime covering taxes and dividends received by the PNG government from the LNG project.
“The government needs to have these measures in place before the LNG revenue starts to flow in about five years’ time,” Somare said.
Under a joint understanding signed with the Australian government late last year, PNG requested that
Now why on earth are we looking yet again to Australia to set up an effective regime for governance of LNG revenue. We need to step out from under Australia's shadow and spread our wings. This is our oportunity to make our prescence known in the pacific.Perhaps we should be looking further afield for economic advice....
ReplyDeletei saw the newspaper article dated 5th July 2010 on the managment of liquefied natural gas revenue to be given to Australia as said by the Mr Somare....reflects that we PNG dont have the capacity to manage such project. we have top and qualified PNG citzens and why giving such responsibility to a foreign country. It shows the politician have no trust in the top qualified papuan new guineans. Please utilise our own people to tap into the managment....save alot of money that will be given for consulations and responsibilities
ReplyDeleteBecause of the mantality of looking down on our top qualified people have recently forced them to look for job overseas. More PNG of their trade and qualification working now in Australia and even other countries because of no trust giving high jobs to other foreign countries which is a great reap of tax payers portions that sapose to utlise in village projects
Politician feel proud of your top PNG managing companies with expetise of our own citizenship to manage our own resources which i think we have the capability to do so.
We have to really need to think of uncertainty as a preacautionary approach of management the our teriterial resources. Please enough of adopting 100 yrs ago stretegy of "selling land with tabacoos...enough is enough. We need to co-manage taking into account our stakeholders involvement with delegated responsibilities and authorites, thus minimises disputes and conflicts over resources. We dont have to continue reaping of the tax payers slide of the cake (LNG).....Enough of selling us away...feel proud that we can manage and utilse...the attitude of no trust turns the trust away