FCCC's Annual Report Celebrates Research Papers But Omits Names, Payments and Questions Behind Them - Biman Prasad, Joel Abraham and Paresh Narayan whose private APAEA signed MOU with the FCCC

*On page 27 of its 2023–2024 Annual Report, FCCC proudly listed five research papers published under its collaboration with the Asia Pacific Applied Economics Association (APAEA), including papers on fuel prices, inflation, LPG pricing, energy markets and FCCC's own price-control measures. Yet nowhere on page 27, or elsewhere in the report, are the authors identified, despite Fijileaks investigations having identified FCCC chief executive Joel Abraham, former Finance Minister Biman Prasad, Monash University economist Paresh Narayan, his wife Seema Narayan, Akeneta Vonoyauyau, Vinitesh Kumar and others as contributors to some of the publications. Nor does the report disclose how much public money was spent on the research programme. 

Tick-Tock: One Month On, Biman Prasad, Paresh Narayan and Joel Abraham Remain Silent as Lambs Over Research Paper Questions

25 May 2026

Dear Professor Biman Chand Prasad, Professor Paresh Narayan, and Mr Joel Abraham,
​
I write in the public interest concerning the 2023 research paper titled How Effective are Price Regulator’s Price Control Measures?, published in the Bulletin of Monetary Economics and Banking and co-authored by the three of you.
​
Recent public statements concerning the FCCC-APAEA research collaboration, including claims that approximately $200,000 was expended on consultancy and professional fees associated with the project, have given rise to several important governance and transparency questions.

In particular, Professor Paresh Narayan has publicly stated that “research is not free” and that the Memorandum of Understanding between FCCC and APAEA contained “fees and compensation arrangements”.

The following questions therefore arise.

The 2023 Research Paper

1. What was the precise role played by each of the three co-authors in producing the 2023 paper?
2. Who conducted the econometric and statistical analysis?
3. Who drafted the paper?
4. Who supplied the FCCC data used in the study?
5. Did FCCC staff assist in compiling, analysing, or cleaning the data?
6. Was the paper independently peer-reviewed prior to publication?
7. Did FCCC management review or approve the paper before publication?

​
The FCCC-APAEA Arrangement

1. Can the FCCC-APAEA Memorandum of Understanding be publicly released?
2. Was the reported figure of approximately $200,000 accurate?
3. What precisely did the reported expenditure cover?
4. Who authorised the expenditure?
5. Did the FCCC Board approve the arrangement?
6. Was any procurement or tender process undertaken before the engagement?
7. If no competitive process occurred, what was the legal or administrative basis for sole engagement?

Payments and Compensation

1. Professor Narayan has publicly stated that the MoU provided for “fees and compensation arrangements”.​ Can each of you therefore clarify:

(a) whether any of the three co-authors personally received payments, fees, allowances, consultancy income, reimbursements, or other benefits arising from the project;
(b) the amounts received, if any;
(c) the dates of such payments; and
(d) the entities through which such payments were made?

1. Did Professor Biman Prasad personally receive any payment or financial benefit connected to the research project?
2. If Professor Prasad did not receive payment, can documentary confirmation be publicly provided?
3. Were any payments made to universities, consulting entities, or third-party organisations associated with any of the authors?
4. Were taxpayer funds used to finance publication, conferences, dissemination, or travel associated with the research?

​Governance and Conflict Questions

1. At the time of publication, Professor Biman Prasad was Fiji’s Finance Minister while Mr Joel Abraham was Chief Executive of FCCC.

Given those positions:
(a) was any conflict-of-interest assessment undertaken;
(b) was any declaration of interest made;
(c) was Cabinet informed of the arrangement; and
(d) was legal or ethics advice sought?

1. How was the institutional independence of FCCC protected where the head of the regulator co-authored a paper defending the effectiveness of FCCC regulatory interventions alongside the serving Finance Minister?
2. Do the authors accept that even if lawful, the arrangement may still give rise to legitimate public-interest concerns regarding institutional proximity and regulatory independence?
3. Were the payments and research arrangements disclosed in FCCC annual reports, audited accounts, or parliamentary disclosures?
4. In the interests of transparency, will all relevant documents now be released publicly, including:

(a) the MoU;
(b) approval documents;
(c) payment schedules; and
(d) procurement or Board records relating to the project?

I would appreciate your responses within a reasonable timeframe.

Yours faithfully,
Victor Lal
Editor, Fijileaks

From Fijileaks Archive, 26 September 2025