Business News

Governor Wobiro announces distribution of Ok Tedi shares

 

By Judith Kasek – EM TV, Port Moresby

After the government’s announcement last week, the Western Province government today explained how the ownership arrangement would work.

Western Province Governor, Ati Wobiro, said the shares will be managed by the people and the money will not be held in a trust.

This has, however, brought about a new wave of disagreements.

In a press conference today, Governor for Western Province Ati Wobiro announced the distribution of the 33 per cent shares of the Ok Tedi Mine, owned by the people of Western Province.

Unlike in the past, the mine will be managed by the people of the Province and will not be held in a trust.

The National Executive Council is yet to approve the distribution.

Early this week the Prime Minister announced that the people of Western Province will now have a 33 per cent share ownership of the Ok Tedi Mine.

While that is the proposed distribution of shares, a group from the Western Province is unhappy with the distribution.

Elias Elkina, chairman of the Mohomal Kweptan Clan in Western Province, said they were not consulted by the State regarding ownership.

Elkina says they were not given any say in the distribution of the shares and request that the decision be reversed.

https://youtube.com/watch?v=K_pSQC-AX5c%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch

Related posts

Maru: Focus on Strengthening Security Market

EMTV Online

Anna Skate Sets Rally at Kaugere

EMTV Online

PNG Youth Want to Lead in Development

EMTV Online

Leave a Comment

error: Content is protected !!