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 Finschhafen MP Rainbo Paita has raised concerns about the ongoing dispute between the Mineral Resources Development Company (MRDC) and Kumul Petroleum Holding Limited (KPHL) regarding the management of landowner funds.

Paita highlighted the issue surrounding the 4.27 percent Kroton equity, designated for impacted landowners and Provincial Governments involved in the PNG LNG project. He expressed disappointment that two State-Owned Enterprises (SOEs) are publicly battling in court over the management rights of these equities.

“KPHL, as the State nominee, has been entrusted with the Kroton equity, which was placed under its care. Despite previous NEC decisions and promises from both the current and former governments to release these funds, there is no justification for further delays,” Paita stated.

He further emphasized that MRDC holds the mandate to manage the interests of landowners and provincial governments in all mining and petroleum projects, and there should be no reason for the government to allow a conflict between two SOEs when the law and mandate are clear.

As Papua New Guinea nears its 50th Independence anniversary, Paita urged that people be trusted to manage their own affairs. He assured the affected landowners and provincial governments that the new government would take decisive action to transfer these equities in the LNG project directly under their control.

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