Kolombangara Development Advisory Cabinet sub- committee (KDAC) last week took the opportunity to update Prime Minister (PM) Jeremiah Manele MP, on the progress of the implementation of its flagship project.
KDAC’s director Herald Amiki with his team of Cabinet sub-committee members provided update on the policy progress of the Kolombangara Forest Product Limited (KFPL).
Amiki highlighted that there were two important commitments made to the people of Kolombangara by government some 32 years ago.
The outstanding commitments are: the transfer of Investment Corporation of Solomon Islands (ICSI) shares in Kolombangara Forest Product Limited (KFPL) to Kolombangara Landowners Trust Fund (KLTF) (landowners Trust Foundation), and the transfer of all PE land titles on KFPL’s Fixed Term Estate (FTE) land titles to KLTF.
In preparation, KLTF has registered the Kolombangara Island Investment Limited (KIIL), its commercial arm and the five (5) tribal companies have shares in it (KIIL).
Currently the KDAC is assisting KLTF to open KIILs Bank account as well as the 5 shareholding community companies.
KLTF’s bank account has now reopen while KIIL and its three shareholding community companies are still in the process of finalizing their bank accounts.
With the Transfer of PE land titles on KFPL’s Fixed Term Estate (FTE) land titles to KLTF, the following are current
A listing of all KFPL FTE parcel numbers have been referred to Registrar of Titles (ROT) for verification, ensuring that correct and current PE titles holder are legitimate. Upon completion of verification, all PE under Commissioner of Lands (COL) would have a letter requesting ROT and COL to transfer them to KLTF.
On confirmation of illegal registration of PE titles, Legal Council (RANO) will be notified to proceed legal process for rectification.
Meanwhile a new investor (New Forest) is currently in the country doing due diligent visit/tour to Ringi, Kolombangara.
- OPMC
