hannet calls for equal distribution of bcl sha

As the distribution pass the parliament...;-)))

Hannet calls for equal distribution of BCL shares

BOUGAINVILLE MP Leo Hannett has called on the National Government for an equitable distribution of 76.4 million of its shares in Bougainville Copper Limited (BCL) to the people of Bougainville.
Mr Hannett also asked the Government what plans it had for K27 million it had claimed from BCL. The matter was before the Supreme Court.
Mr Hannet singled out Prime Minister Sir Michael Somare and Mining Minister Sam Akoitai, asking if Bougainville could be given at least half or all of the K27 million as a peace package and a token of appreciation for its contribution to PNG.
Mr Hannett asked if part of the funding could be used for rehabilitation and reconstruction of the basic socio-economic services on the island.
Mr Hannett made the remarks during Question Time in Parliament last Friday.
He said BCL had contributed K3 billion to PNG’s national budget during its life span from 1972 to 1989.
He said the 76.4 million shares in BCL, owned by the National Government, were distributed in the proportion 40:40: 20.
“It is clear that the root cause of the frustration and anger that led to the crisis is the unprincipled approach to the equitable distribution of wealth,” he said.
He called on Sir Michael, Mr Akoitai and Bougainville Affairs Minister Sir Peter Barter to ensure that Future tax payments by BCL and other companies in Bougainville be shared equally between the Autonomous Bougainville Government and the National Government.
Currently, 95% of the tax goes to the National Government and only 5% goes to Bougainville, he said.
Mr Hannett further urged the Government to review the Bougainville Copper Agreement.
Mr Akoitai said the issue was before the court.
He agreed that the agreement needed to be reviewed and added that the National Government had assisted with K1.5 million for relevant parties to review the agreement.