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Welcome to Sunday Chronicle blogspot. Sunday Chronicle is a leading weekly newspaper in Papua New Guinea. It is a community oriented paper and highlights positive issues and developments of the week. We hope this medium of communication can keep you abreast of the happenings and events in the country and abroad.

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This week's local news - July 18 - 21, 2013.

Sunday, April 4, 2010

PNG government trust account controlled privately


A PRIVATE individual has been a signatory to a Papua New Guinea Government trust account.

And millions of kina from that account were paid to private consultants including payments to the signatory's company.

The Parliamentary Public Accounts Committee(PAC) revealed that the Konebada Petroleum Park Authority Working Group Trust Account (KPPWGTA) is operated outside the Papua New Guinea Government Computerized Accounting System (PGAS).

The PAC report, tabled in Parliament last month, reads: "Effectively this trust money has been handed to private persons and is unaccountable.

"We believe the purpose of this was to avoid scrutiny."

According to the PAC, this person is not a delegated person to be a signatory for the account.
It also reads:"It is notable that millions of kina have flowed to private consultants -including payments to the signatory's company.

"The department Secretary has lost control of Trust management. No records were produced for audit of the KPPWGTA.

"They were apparently kept at a private apartment by the Project Manager."

Meanwhile, the Committee in its report also said Government Trust Accounts should not be managed by the Public Service or Government agencies at any level.

"No Trustees, signatory officer identified as failing to maintain Trust records and accounts or conduct themselves as Trustees, signatories or accountable officers in a proper and lawful manner, should ever again be permitted to assume any degree of responsibility for management of public monies in any capacity-but particularly as a trustee," the PAC said.

The Public Service is patently and demonstrably incapable of lawful managing Trust Accounts and officers of that service are clearly incapable of understanding or performing their duties as Trustees, the report said.

The PAC attributed some of the failures to the inability by the Department of Finance and Treasury to protect the State by properly monitoring and recording the expenditure of public monies through this Trust account and or by requiring and enforcing accountability from its own Department officers.


Anonymous said...

Keep up the good work Sam Basil. We believe in you.. You can make PNG a better country ...

God Be With You and Bless You !!!

Anonymous said...

The Deputy PM was the Chairman of the Konebada Petroleum Park project and he should know what happended with the money. Another project needs some investigation is the Central City project that remains another failure with loss of millions of kina.

Anonymous said...

What a mess? Yet it goes on without detection. Could the institutions responsible act for what you are paid for..for goodness sake we are being robbed by our own people. The world is laughing about this and enjoying every bit of it when we fight against each other. This is DECEPTIVE leadership at its BEST. Get rid of the STINK before we fall prey to those powers to be!