Source: Liam Fox on Australian Network News 

Papua New Guinea's Prime Minister says reports into controversial land leases reveal a shocking trend of corruption and mismanagement.

Two years ago a Commission of Inquiry was formed to investigate Special Agricultural Business Leases (SABLs)

The Prime Minister Peter O'Neill has tabled the reports from two of the three Commissioners in Parliament.

He told Parliament that of the 42 SABLs examined, only four had the consent of local landowners and had viable agricultural projects.

Mr O'Neill said the other 38 were seriously compromised and the policy of using SABLs to free up customary land had failed miserably.

The Commission has provided recommendations to improve the process but Mr O'Neill says more drastic action is needed.

He's promising to establish a taskforce to develop a new legislative framework to free up customary land for development.