The Chief Executive oPNG Sustainable Development Program Ltd, Mr David Sode, today announced that 59’s taff had been made redundant because of a lack of revenue flow, followingthe National Government'’s expropriation, without compensation, ofthe Ok Tedi mine.
He sain PNG DP deeply regrets having to makethe difficult decision,they had no choice.
He saidthe staffs were highly skilled intheir field, committed tothe people of Western Province and nation-building.
The decision by OTML not to paythe 2012 dividend has affectedthe normal flow of funds. Nor canthey accessthe Long Term Fund to keep social and economic development projects going.
Mr Sode sain PNG DP had paid out staff entitlements in full. Monitoring of ther parts ofthe organisation was continuing.
PNGSDP is still focused on its current restructuring ofthe business in moving 100 percent to Western Province, and defendingthe assets, rights, and income and compensation benefits ofthe people of Western Province.
Caption: Chief Executive oPNG Sustainable Development Program Ltd, Mr David Sode. Picture by malumnalu.blog
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