Shoreline and 16/11 are two separate issues [1]
Monday, February 5, 2007 - 18:30. Updated on Monday, December 16, 2013 - 22:45.
Editor,
May I suggest that the Riot on 16/11 is a completely separate issue from "Shoreline". Let us not get confused please. The burning of Tonga on 16/11 was a criminal act. In the civilised world, the Law must be applied to all. I am satisfied that justice will be done in Tonga thanks to the help from the New Zealand Police. The Prime Minister has nothing to do with the arrests of the PR leaders. If the Police found evidence that these PR members committed offences in connection with 16/11 then they must be dealt with according to the Law of the Land. Amen.
What I would like to see though is for a public enquiry into the whole affair of 16/11 to be carried out in Tonga. An independent Judge would preside over the enquiry and the PM, members of the Cabinet and members of Government would be called to give their version of events re: 16/11 riot to the Judge. This would tidy things up and show that Tonga has grown up at last. Of course, if there was evidence of malpractice by any of these people including the PM and his Government, then they should be prosecuted according to the Law of the Land. Amen.
Many thanks to Ms Lynch for her effort in highlighting the Shoreline issue. Who are the owners of this company again? What part does the King play in this whole affair? Shoreline is not worth $60 millions. In fact, my quick calculation tells me that if this company was selling its own shares on the financial market, the shares would be worth Nothing. Consider this - Shoreline can only function if BP sells them fuel. BP refused to sell them fuel until the debt is paid. The Tongan Government paid the debt (a loan apparently), which means that all Shoreline has got to show for is Debts. Apart from the metals and pipes etc, this company has no real assets. In other words, if this company had been floated on the financial market, the share value would be wiped out and it would be in liquidation.
Suggestions - Solutions:
1) Shoreline declares itself bankrupt and the liquidators give a valuation and sell the remaining company assets. Some of the company's debts will be paid off, and some will be cancelled. The Government then takes over the running of Power distribution temporary whilst looking for a private buyer from home or abroad. The owners will have to take comfort in the thought that they have no debt to pay. Or
2) Shoreline sells the company back to the Government for $1.00, Government take over and run the Power distribution again. This unfortunately means that the Government will have to take over the company's debts as well. Again the owners of Shoreline will have to be thankful that they have no debt to pay.
Tonga has been in trouble financially for thirty odd years or more. Have you ever wondered what the Tongan Government has done with foreign aid in the past? 02/02 New Zealand Government announced that it will give $2 millions to contribute to the recovery package in Tonga. This is in addition to a $10.1 millions annual bilateral aid programme. I do hope that the NZ High Com will be responsible for dishing out the money. Someone has got to watch where the funds go.
Seriously though, have you ever wondered how come we have a Government at home that has more PhDs per capita then any other Government in the world yet is poorer then any of her neighbours?
'Ofa atu
Senolita Swan
senolita_swan_3 [at] msn [dot] com