UPNG Forum On UBS Loan

The Student Representative Council of the University of Papua New Guinea will be petitioning the government against the K3 billion UBS loan.

SRC president Bobby Yupi said the loan is a breach of the constitution. The SRC proposes private citizens should have been given the opportunity to buy the oil search shares, instead of mortgaging off the ordinary grassroots citizens.


A student forum was held at the University’s forum square. The first forum for the newly appointed SRC. SRC president Bobby Yupi is adamant on getting the two third majority support of the student.


He believes the signing of the K3 billion loan agreement, was rushed, and exposes PNG to a volatile world market.


The SRC, which is predominantly dominated by law students, also expressed concern that more time wasn’t given to look into the legal parameters of such a loan. The loan has already been signed, but further processing of the loan has been halted by the Ombudsman Commission.


Meanwhile, on a separate issue concerning brother institute Unitech, the SRC called for the tabling of investigations on the floor of parliament. They say Dr Albert is not a threat.

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