Trade Commerce andIndustry Minister Richard Maru has called for the financial audit of all Business Development Grants disbursed bythe National Government through his department.
Minister Maru made this call after receiving complaints from representatives fromthe impacted communities in PacificIndustrial Maritime Zone in Madang.
Minister Maru’says his department has received reports of gross abuse and mismanagement of seed capital provided tothPMIZ project.
Maru’saysthe two umbrella companies namely KananamInvestment Limited and Rehammab Holdings Limited will face immediate audit intothe One Million kina provided tothem.
He emphasized that public funds must be accounted, used responsibly in creating jobs and economic growth to change people’s lives.
Maru’saysthe audit will extend tothe LNG Project umbrella companies who are also recipients of BeG funds.
The Office ofthe Auditor General will appoint financial auditors to conductthese audits commencing next week.
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