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TIPNG CONDEMNED LACK OF TRANSPARENCY ON THE PROPOSED NATIONAL GOLD CORPORATION BILL

Transparency International PNG (TIPNG) condemned the lack of transparency and potential for corruption surrounding the proposed National Gold Corporation Bill.

“We believe the rushed nature of this Bill, with insufficient public consultation, creates a significant risk of corruption particularly as the Shareholder Agreement signed between the State and private entity has not been made publicly available.  

This was stated by the TIPNG Board Chair, Peter Aitsi.

“Rushing such legislation through without proper consultation creates opportunities for corrupt practices to flourish,” Mr. Aitsi said.

He said the lack of transparency surrounding the National Gold Corporation Bill is deeply concerning as it has significant implications for the future of Papua New Guinea’s gold resources.

He also highlighted that the commercial value of the agreement is questionable and serves the interests of private investors.  

Mr. Aitsi stressed that the public deserves a chance to understand its contents and potential impacts.

TIPNG now calls upon all relevant state agencies to fulfill their mandates and act in the public interest.  

“This includes scrutinizing the National Gold Corporation Bill thoroughly, through recognized forums such as the PNG Extractives Industries and Transparency Initiative, and providing independent advice to the government before it is enacted.” He stated.  

He advised that failure to do so will further erode public trust and damage national integrity systems.

“If a thorough review reveals detrimental aspects to national interests or potential for corruption, TIPNG calls for the Bill to not be supported and withdrawn entirely.” Mr. Aitsi stated.

TIPNG maintains it is committed to promoting transparency and integrity in the management of Papua New Guinea’s natural resources.

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