27 Jun 2005

PNG state asset compoany boss sacked by cabinet

4:16 pm on 27 June 2005

Reports from Papua New Guinea says the managing director of the Independent Public Business Corporation is likely to have been sacked over a disagreement with the board.

The National newspaper says Masket Iangalio was dismissed by Cabinet during an emergency meeting on Friday.

This follows the departure of another consultant, Danny Wase, who left the IPBC two weeks earlier.

Our correspondent Peter Niesi says businessman Glen Blake and legal advisor to the Prime Minister, Sumasy Singin were elected onto the IPBC board.

Peter Niesi says they wanted KPMG to get paid an annual fee.

"So both of those have been appointed onto the IPBC, and the allegations raised in parliament is that both of them were instrumental in pushing for specific things to be done with the Telekom board, including a contract to an accounting firm for 4.7 million kina."

Peter Niesi says the IPBC is the state's asset manager and oversees all of the state's corporations, including Telikom.

He says Mr Iangalio is also a former politician, who co-founded the National Alliance Party, which the Prime Minister leads.