|Philemon to look into Cayman deal|
|October 1 2003, 12:35 PM |
FINANCE and Treasury Minister Bart Philemon has made an undertaking to Parliament that he would investigate and table a report on the Cayman Island deal.
Mr Philemon said former Prime Minister Sir Mekere Morauta had tabled a report on the deal, but it appears suspicion about it still linger on.
These suspicions stem from whether all monies from the tax proceeds from mining and petroleum transferred as a mortgage for the US$90million loan were fully repaid to the State.
"I will undertake to revisit this matter and make an appropriate statement, hopefully, at the November session of Parliament,'' he said.
North Bougainville MP James Togel told Parliament that the Cayman deal remains an "un-shut issue and an ongoing saga'' as there has been no convincing or real answers on the issue to date.
Describing it as the "biggest financial scoop in the history of this country", he said not everything about it has been told and the people of PNG are entitled to an honest answer.
"The matter should not be brushed aside or swept under the carpet," he said.
"This shady and most suspicious deal literally broke this country.
"It must be put right for the sake of transparency and honesty."
Western Province Governor Bob Danaya raised similar concerns last week.