LADY Stella Chan was all smiles yesterday as she unveiled the country’s new K100 note, which features the face of her late husband, Sir Julius, in honour of his legacy.
Sir Julius was given the commemorative tribute by the institution that he played a pivotal role in establishing – the central bank (Bank of Papua New Guinea) – three days before the first anniversary of his death.
BPNG governor Elizabeth Genia said the new note became legal tender from yesterday. It will be in circulation today.
“This is not simply a decoration. It has meaning,” Genia said.
“We have produced a bank note that reflects the qualities that define Sir Julius’ public life, care, discipline and respect.
“As our highest denomination, the K100 carries weight as it moves through every part of our economy, trusted to tell a story about who we are.”
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“The bank was to be professional, credible and uniquely our own.
The reverse side of the note features a New Ireland shark-caller, a Lagatoi, Kina shell necklace and a Toea shell armband.
Genia paid tribute to Sir Julius, the country’s first finance minister, and one of the founding fathers of the nation, saying it was only fitting to the legacy he had left behind.
“For the Bank of PNG, Sir Julius is not only a national leader, he is foundational to our institution,” she said.
“In 1973, as the first minister for internal finance, Sir Julius led negotiations to ensure that PNG would establish not just a
bank, but an independent central bank.
“He understood that our ability to define our own value was fundamental for independence.”
She also thanked Note Printing Australia for its support over the years, especially with the new commemorative notes and coins to be used in PNG.
Prime Minister James Marape said it was a privilege to have been mentored by Sir Julius during the start of his own political career.
“I had a personal relation with Sir Julius,” Marape said.
“He first endorsed me in 2002 (general election).
“He was the one who crafted me into politics.
“It is a pleasure and privilege for us to honour him.
“He was a great man and deserves to be on this new note.”
Meanwhile, a traditional New Ireland ceremony led by the maimai was accorded to the Government for its recognition of Sir Julius Chan on the new K100 note.
Toea Chan, the youngest son of Sir Julius, spoke on behalf of the family to acknowledge the support of the people and Government for their late father.
“Sir Julius was the last man standing of a generation gone, but will always be in our hearts with this recognition,” he said.
“Your support has been a constant source of strength for our family.
“Thank you all for everything.”