to get K640,000 ... yeah, but he
did do 18 months work ... (22/1/02)
TO GET K640,000 IN 'GOLDEN HANDSHAKE' by Daniel Korimbao (The National 22/1/02)
PRIVATISATION Commission Executive Chairman Ben Micah will receive more than K640,000 in a golden handshake when he leaves the Privatisation Commission.
appointment was revoked by the National Executive Council
during its meeting last Thursday.
is expected to leave the commission on February 28, 2002.
public profile and integrity was brought into question when the Papua New Guinea Banking Corporation
, the State-owned bank which Mr Micah
succeeded in selling off under the government's privatisation program, sought insolvency proceedings against him for a pervious outstanding loan arrangement he
had with the bank.
claimed that the publicity of this proceeding has hurt his
standing in the community, and wrote to the Prime Minister to be relieved from his
appointment was for a period of five years, commencing on October 25, 1999 and ending on October 24, 2004.
actually signed his
employment contract on November 8, 2000.
would have effectively served only 15 months as executive chairman of the commission, leaving a balance of 32 months remaining on his
But the NEC
has decided to remove him and pay him approximately K648,244 before tax the equivalent of 18 months remuneration of his
remaining portion of his
contract of employment, and any other entitlements due to him.
leaves the Privatisation Commission
, Mr Micah
is expected to assume a leadership role in the Pan Melanesia Congress Party, the new party, which he
helped founded only last year.
has made no public statement, Mr Micah
is expected to contest the Kavieng Open seat in New Ireland province, the seat he
lost in the 1997 general elections.
In the submission to the NEC
to authorise Mr Micah's
termination and payout, Privatisation Minister Vincent Auali said he
was a driving force behind the Government's
Minister Auali said under Mr Micah's stewardship, substantial progress was made towards achieving the privatisation program.
But the minister admitted that the publication of the insolvency proceeding has done "irreparable harm to his
name and reputation", and Mr Micah
needed to be relieved of his
duties to fight the case.