By Colin Taimbari
PORT MORESBY, Papua New Guinea (August 1, 2002 - The National/PINA Nius Online)---Papua New Guinea has lost its way and is heading towards economic collapse, the Papua New Guinea Chamber of Commerce and Industry warned yesterday.
President Michael Mayberry, speaking amidst the jockeying by politicians to form the new government, said Papua New Guinea has to get its act together quickly.
Mr. Mayberry said the prolonged general election and its related problems were doing little to help the already worsening situation.
Mr Mayberry said, among other things, that:
* Businesses were closing down and investment has declined sharply;
* The kina is currently at its lowest level and falling;
* Shares of major companies have taken a plunge;
* Income is going down substantially for a lot of companies; and
* Overall economic activities in the country have declined.
He said: "This is because many foreign...