STOP FEDERAL FUNDING TO CHINESE OWNED GAS COMPANY
MEDIA RELEASE
One Nation Leader Pauline Hanson today called on Scott Morrison to reject a loan application to the federal government by a Chinese government-owned gas company.
Jemena, 60% owned by the State Grid Corporation of China, owns electricity generation assets and a significant part of Australia’s gas pipeline network. It has proposed a $5 billion extension of its Queensland and Northern Territory infrastructure by seeking financial support from the Northern Australia Infrastructure Fund.
Senator Hanson said, “Giving taxpayer money to the State Grid Corporation of China is an incredible betrayal of the Australian people.”
Jemena’s parent company SGSP Assets Pty Ltd revealed: “The Australian Tax Office is currently conducting a transfer pricing audit in relation to the company’s convertible instruments”.
Senator Hanson said, “Why would the Federal Government even consider giving money to a company which has been under investigation for multinational tax avoidance since 2016.
“Jemena has paid no tax in Australia because it says it has borrowed finance from a related company at 10.5%.”
Jemena is currently seeking funding from NAIF for the pipeline between Mt Isa and Roma.
“It’s bad enough that Chinese government-owned companies have control of these absolutely vital Australian infrastructure assets.
“The Morrison Government is giving billions of dollars to Chinese-owned companies every year. Given China have now weaponised their trade with Australia, it’s time we take their threats seriously and stop subsidising the Chinese Government.”
