By Meriba Tulo – EMTV News, Port Moresby
The Parliamentary Public Accounts Committee (PAC) has announced that they will hold an inquiry into the operations of Kumul Petroleum Holdings. According to PAC Chairman, Sir John Pundari, the decision to request for KPHL to appear before the committee is to ascertain how the entity has managed funds received since first gas in 2014.
Sir John Pundari called a media conference today to discuss several issues relating to the PAC, including the decision of the Committee to hold an inquiry into the affairs of Kumul Petroleum Holdings. According to Sir John, the decision to hold this inquiry is to get an idea of several issues relating to KPHL, among them, the total income received since the first LNG shipment in 2014.
The PAC made it clear that they wanted to clarify the breakup of revenue received including landowner benefits; with a view to also clarify how much revenue that belongs to the State as the Shareholder, and KPHL’s operational costs.
According to Sir John, the decision taken by the PAC is in line with promoting greater transparency and accountability for state agencies who are answerable to the people of this country.