18 Sep 2018

MP calls Solomons policy on extractive industries inadequate

6:47 pm on 18 September 2018

A Solomon Islands MP says government policy on extractive industries continues to be inadequate.

Axiom drilling activity on Isabel Nickel Project.

Photo: Supplied

The Solomons Star reported Aoke MP Mathew Wale saying the longer the inadequacies remain, the more resources the country and landowners will lose.

Mr Wale has hit out at what he calls the "nonsense of a determined price mechanism", calling it "legalised corruption".

He said he was surprised to hear during a Public Accounts meeting a few months ago when the Economic Reform Unit confirmed the price is negotiated with the industry.

Mr Wale has questioned why the Unit does not use higher prices published by the Central Bank.

He said if there were two price indices and one is considerably higher than there is a duty of care by the managers of the economy to opt to use the higher price.