September 3, 2019

UBS INQUIRY TO COST PNG TAX PAYERS OVER 4 MILLION KINA

Chief Commissioner to the Commission of Inquiry into the UBS Loan acquisition, Sir Salamo Injia says the cost of the inquiry will be more than the allocated 4 million kina.

Sir Salamo has been in the role as chief commissioner for close to a month now following his appointment.

Based on an assessment carried out by Sir Salamo, he estimates the budget may triple and the process likely to take more than 3 months.

“The projections at this stage, after having done some preparatory work in the last three weeks, is that the costing might triple and the period required might double the initial projections,” the chief commissioner said.

“That is my estimate, as realistic as I can be.”

The former chief justice, pointed out that the inquiry may include flying witnesses in from outside the country and this will result in the cost increasing.

But he adds the commission will use the initial allocated four million and any formal request for more funding will be made when the need arises.

Meantime the start date for the inquiry has been moved to September 19 to allow for additional resources to be secured and further appointments to the commission to be made.

The commission of inquiry will be conducted on level one of the Government Printing Office in Port Moresby.

FM100/ONEPNG
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