Sunday, November 27, 2011

Arthur Somare's 'shameful legacy'

Minister for Public Enterprises, Sir Mekere Morauta, said today that the suspended Member for Angoram, Mr Arthur Somare should check his facts.
"Independent Public Business Corporation has not withdrawn its court action against various people and organisations involved with the illegal disposal of Motor Vehicle Insurance Ltd’s shares in Bank South Pacific," he said.
"That action remains current, although the hearings have been adjourned until next month."
He said continuing investigations into the transaction were uncovering new information all the time, and in light of that new information, the court action might have to be amended.
“But I repeat – it has not been withdrawn as the suspended Member for Angoram says,” Sir Mekere said.
“However, this costly court case was totally unnecessary. 
" Mr Somare and the former MD of MVIL, Dr JohnMua, were in the same household. 
"Why is one taking the other to court, when all the Minister had to do was to instruct Dr Mua and the MVIL Board to return the money? 
"Even now, we are still negotiating with the alleged holders of the money in Australia to have it returned, so we can avoid wasting more money on a court case.”
“I remind Mr Somare that this illegal transaction happened on his watch.
"He and the former IPBC management were reckless and negligent with public assets.
“Arthur Somare allowed K100 million worth of the people’s assets in MVIL to be put at risk while he was Minister.
“This is on top of the K900 million he has cost us because of his mishandling of the loan to pay for equity in the LNG project, the K31 million investment in the failed US merchant bank Lehmann Bros, his share of the K30 million bill left behind for using the Somare aerial PMV for doctor’s appointments, shopping, family parties and golf games, and the illegal expenditure by Telikom of about K800 million including a loan of K200 million.”
“That is a shameful legacy,” Sir Mekere said.
“And what does Mr Somare have to say about the K900 million shortfall on his IPIC loan? 
"A loan in which Treasury was not involved; a loan which never had NEC approval; a loan which was never tabled in Parliament.  
" It was negotiated and signed behind closed doors by people with no experience in the complex world of international high finance. 
"As the Prime Minister said, ‘little boys doing grown-ups’ jobs’. "
"And the nation is burdened as a result.”


  1. Please thoroughly investigate Somare and his family and weed out the corruption and rot once and for all...the last 10 years was a Samore Dynasty, it was a family affair, PNG government and the poor hard working tax payers were used at their own expense, now look at what Authur Somare had been involved in, what PM O'Neil and Sir Mereke brand him as small boy doing big man's job..he was reckless, used by foreigners such as Mr Blake to rake PNG people's finances, where is the so called Dr, Mua? Arrest him if he has done anything wrong with the MVIL shares...he needs to go straight to Bomona? Why is the Ombudman so silent in these matters which involve millions of kina? Come on PNG wake up and we cannot be continuously used and abused...Mendi Naiko, Dubai, Middle East.

  2. Anonymous9:49 AM

    Don't waste time with crooks...Put them in lockups and let them experiance the pain of their wrong doings. In countries like China you are a dead man if found to be corrupt.