The definition of wealth, he says, is when people are rich, self-reliant and have improved living standards.
However, the Government keeps on borrowing money to repay loans while funding projects at the same time, claims the former prime minister.
He says we need good leaders who can lead during these difficult times and into the future.
Sir Julius made these remarks on Tuesday, during the launching of Kavieng district’s ward trucks, tractors and cooking ovens at the Kopkop showground.
Meanwhile, Governor Chan said New Ireland has transformed in the last five years, creating opportunities for people to excel in life and become wealthy.
“The government (provincial) has transformed New Ireland education system, bringing the number of schools from just one secondary school to seven, with an eighth one coming up,” Sir Julius said.
He adds that New Ireland aims to be a model province and for this to happen, good leaders must be put in.
(New Ireland political leaders: Kavieng Open MP Ben Micah, left, Namatanai Open MP and Mining Minister Byron Chan, second left, and Governor Sir Julius Chan, right)