COI into UBS loan report ready to be tabled in Parliament

The Commission of Inquiry into the controversial K3 billion Union Bank of Switzerland loan will present its report to the government next week. 

Chairman and Chief Commissioner Sir Salamo Injia announced that the Commission has completed its inquiry and its report is ready to be delivered. 

The Commission of Inquiry was set up by Prime Minister James Marape in 2019  to probe into the UBS loan deal obtained by the then O' Neill government in 2014 to buy shares in Oil Search Limited. 

Mr Marape after taking office undertook to convene a COI to establish facts surrounding the whole transaction including all persons and entities involved in the deal. 

After two years of inquiry, a satisfied Chairman, Sir Salamo Injia announced the completion of the final report, which comes in 15 volumes. 

He, however, says, at this time, the report is with Commissioner Margaret White in Brisbane, Australia.  

Sir Salamo says arrangements are being made to airfreight the report to Port Moresby for it to be presented to the Prime Minister on Tuesday, 5th April. 

Source: NBC News/One PNG News

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