NFA presents K60m dividend

The National Fisheries Authority presented a dividend of K60 million to the national government for this year.

The National Fisheries Authority is a self-financing government authority that generates its funding through statutory and access fees from the fishing industry and like all other State owned entities, the NFA is required to pay dividend to the government.

Since 2001, the National Fisheries Authority has paid a total of K396.25 million to the national government.

From 2008 to 2011, NFA ceased paying dividends as per the National Government directions for the surplus funds to be invested in impact fisheries project.

NFA resumed dividend payments in 2012 with K5 million, K55 million in 2013 and 2014 respectively, K75 million in 2015 and K41 million in 2016.

“As the incoming Minister responsible for Fisheries and Martine Resources, I wish to inform the government on the contribution of the fisheries sector in the overall growth of the economy, especially in the renewable sector,” said Minister for Fisheries Patrick Basa.

“The currently active investment processing 2,000mt of fish per day has contributed immensely in generating around 40,000 jobs in the processing factories around the country for Papua New Guineans, majority of (90 percent) which are women and girls. The fisheries sector is contributing a total of around 4 percent of the total GDP,” Minister Basa added.

In accordance with the Alotau Accord II, NFA is developing the fisheries industry by encouraging processing plants to be established in PNG with the anticipation of encouraging onshore processing, thus creating more jobs for locals.

(Loop file pic)

Author: 
Carolyn Ure