Govt will curb corruption

By BLAISE NANGOI
in Sydney

PRIME Minister Peter O’Neill On Monday assured intending investors and the mining and petroleum fraternities that his government will rein in corruption – a blight on the PNG business landscape.
Mr O’Neill assured the 12th PNG Mining and Petroleum Investment Conference that his government had “an uncompromising stand against corruption.’’
“I don’t pretend we can eliminate corruption completely, but we are going to reduce it to an absolute minimum our very best shot!’’ Mr O’Neill declared.
He said Task Force Sweep, set up to probe corruption which has cost millions of kina, and given wide ranging powers, has already made many arrests.
“And more will follow. No one involved in corruption and fraud should feel safe – political leaders, public servants and business people.’’
He said the next step is to establish the much talked about independent anti-corruption authority.
He said the delay was the legislation which is being drawn up and vetted, adding he wanted it done right.
He said the legislation is expected to be tabled in Parliament next year, and that his government will adequately resource and fund it.
The laws for the new authority will be wide ranging and similar to those held by anti-corruption authorities in Australia,
Mr O’Neill had to give assurance that political stability, favourable tax regimes and security are major concerns in the assessment of the investment climate of any country.
Meanwhile, Mr O’Neill also voiced concerns about what he says is a serious situation with productivity.
“That applies to the resources sector, the private sector as well as national and provincial governments, government corporations and agencies including government owned businesses,’’ he said.
“If we are to maximise the benefits Asia’s growth offers, then we are going to have to be prepared to compete with other resource rich nations, especially those in Africa and South America which are currently focusing on the opportunities Asia’s growth offers.
“I think we have been far too complacent about cost blowouts in the construction phases of major projects. When the massive cost increase in the construction phase of the PNG LNG project was recently announced, it was pretty much shrugged off except by the partners who have to fund it - my government included.
“We have to get serious about the cost of doing business in PNG. We have to be serious about the cost of developing and downstream processing our natural resources.’’
Mr O’Neill told the conference the abundance of natural resources and the demand for them was not an excuse to be complacent about production costs.
“It is an issue my government must and will address as we seek to attract more investment, more development and more revenue,” said the PNG Prime Minister.