Dede Sophie

Papua New Guinea Electoral Commissioner Simon Sinai said the Commission will consult with relevant authorities including the Department of Justice and Attorney General to review the cost of legal fees that are charged by private firms on elections petitions and other matters. He said the State remains the single biggest clients to most of the law firms that are operating in the country, where all government departments and State agencies continue to hire their services. Mr Sinai said the government has been paying huge sums of money to private law firms without using an approved legal fee structure. “It is unfortunate that we don’t have a standardized or a prescribed legal fee structure that can be used as a guide to pay appropriate levels of fees to private lawyers. Currently the Commission is paying fees based on different categories of tasks that are undertaken, especially with election petitions. And that’s how we have been operating since the engagement of private lawyers in 2002

Lets first discuss how money evolved through this meaningful timeline infographics on origins of money . If I ask you how old is human history, you will never be able to give an exact date and time because the span of recorded human history is roughly 5,000 years i.e. 30th Century BC. 1.12 1.11 1.10 1.9 1.8 1.7 1.6 1.5 1.4 1.3 1.2 1.1 1 Humans living during Old Stone Age were mostly hunters and nomads with no system of writing or accounting (ledger recording). Their sole purpose of life was survival through hunting, gathering food, fishing or scavenge wild animals. Since there was no medium of exchange (money) people would rather exchange ( barter economy ) one product for another near 9000 BC. A hunter would give another hunter meat, stone axe or leather for an exchange with a good of equal importance in value. Thus exchanging food for food , tool for tool and clothing for clothing . Barter trade was a real goods exchange system with perfect transparency and no residual ef