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COUPLED WITH CORRUPT REGIMES, JULIUS CHAN STARTED THE DOWNFALL OF PNG ECONOMY

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 by DANIEL TULAPI LLB

In my one term of Member of parliament 1992 to 1997 , I , Daniel Bali Tulapi have stood up to Julius Chan ( PM) and foreigners when I was in NEC .

I was sacked by Prime Minister Chan as minister for standing up to him for "telling him what to do in NEC. "

I told PM Chan.. " I submitted a NEC policy to adopt the Saudi Arabia model of hard KINA policy and not to devalue the KINA at the world market currency trade market."

I told National Executive Council (NEC) cabinet not to listen to foreigners and foreign governments. " I said the Kutubu oil when exported will be paid for and purchased by USA our KINA not by USA Dollar.

That means and I said " K 1 = 3 USA Dollars. At that time K1 = 1.5 one Dollar 50 cents USA DOLLAR.

I said we PNG maintain hard KINA policy and adopt Saudi Arabia model of the Riyal currency of Saudi Arabia 1 riyal = 3 USA dollars.

Saudi Arabia was the largest oil exporter in the world at that time.…