The Opposition is calling for the immediate establishment of a Royal Commission of Inquiry into reports of Money laundering involving high profile lawyers in PNG and Australia.
And leader Don Poly, also called for investigations into business transactions of Lawyers Greg Sheppard and Harvey Maladina.
"The business transactions of these two lawyers here in PNG and Australia must be investigated dating back ten years,” he told reporters.
Polye says such reports send the wrong message to the international community.
Sheppard and Maladina revealed in an interview with SBS how money is siphoned out of PNG to Australia.
Polye says investigators must be independent and from outside of PNG.
"I do not trust investigations by the government," he said.
He says the International Monetary Fund & World Bank, even the G20, G8 countries and United Nations pay special attention to reports of money laundering involving PNG citizens and their Australia counterparts.
“Overseas Financial institutions must refrain from lending money to PNG until investigations into reports of money laundering are cleared,” Polye added.
With reports of embezzlement of millions of kina into Australia by PNG nationals and Australian associates, Polye is again questioning the delay in the establishment of the Sovereign Wealth Fund which is aimed at safe keeping the proceeds of LNG.
He wanted to know why the government opted to create Kumul Holdings ahead of SWF which is to be established under international standards and in compliance with Santiago principles.
Polye fears proceeds from the extractive industry kept in Kumul Holdings may be squandered by associates of the Prime Minister and government minister.