ENBDC has failed province – leaders
East New Britain provincial assembly has demanded that the East New Britain Development Corporation (ENBDC) inform the people of the province about its activities in the past 17 years.
The provincial assembly is making the call as the sole shareholder of the company. Governor Nakikus Konga said it is timely the provincial assembly gets some answers.
In the last provincial assembly meeting for the year on Monday in Kokopo, Police Minister and Gazelle MP Jelta Wong, Rabaul MP Allan Marat, Public Service Minister and Pomio MP Elias Kapavore and the Governor jointly said ENBDC has not paid any dividends to the provincial government in the past 17 years.
Mr Wong said: “So many people outside the provincial assembly think we should not be interfering with ENBDC, but that is a big lie because as mandated leaders of our province we are answerable to our people.
“We have to know what this company has done for us and there must be visual records of the company’s account. We have never seen anything come from ENBDC.
“Since I have been in office in Gazelle district, I have yet to see something from ENBDC that has been given to the people of Gazelle.
“Some of us kept tags on ENBDC which at one stage had the largest portfolio and the best real estate in Lae, Port Moresby, Tabubil, Madang which have been sold off to other companies, yet we don’t know if money has come back to ENB.”
Dr Marat said since he entered parliament in 2002, he cannot recall the provincial government having thoroughly debated a financial report from ENBDC. He doubted that things in the company had been done according to the constitution of ENBDC.
“Looking through the constitution of the company, a lot of provisions are not as compact as provisions in the current Companies Act, so we have a big problem,” he said.
“It seems that things are happening haywire, now it seems the board of directors are trying to make the sole shareholder of ENBDC, the ENB provincial government answer to them. I want all the members of the assembly to know that we are now placed in a situation where a group of people who do not represent the people of this province want to remain in control.”
He appealed to the shareholder to appoint new directors of the company and to run with ENBDC that belongs to the people of East New Britain.
Mr Kapavore said there must be an audit and forensic review of the financial affairs of ENBDC and presented at the next assembly.
“We must stand united so that nothing must be hidden and dealt with accordingly,” he said.
Mr Konga said the provincial assembly was mindful of last year’s provincial budget deficit of almost K100 million so it began to look at revenue raising strategies including ENBDC as its business arm. He said although ENBDC is owned by the people, it has failed miserably to pay any dividend to the province in 17 years.
“For that reason alone, as a legitimate and responsible government, we would like to replace the board of directors,” Mr Konga said.
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