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Former PNG Prime Minister O'Neill welcomes UBS Loan Report

PNC Party leader and former Prime Minister of Papua New Guinea Hon. Peter O’Neill has welcomed the announcement made in Parliament yesterday on a proposed Royal Commission of Inquiry into the Controversial UBS loan. Mr O’Neill said he will be the first to testify when the inquiry is set up.

In a statement made yesterday, Mr O’Neill said he did not do anything wrong, by complying with a court order that the State of Papua New Guinea needed to make repayments on a loan and that is why the payment was made. He went on further to say that he didn’t negotiate for the loan. Treasury did the negotiations and with the advice we got, NEC then made the decision, clarified O’Neill.

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