Naima Rice

“There were disturbing reports in mainstream media on 26 January that Agriculture and Livestock Minister, Benny Allan, had stated that foreign-controlled Naima would take control of the rice market in PNG once the state solicitor had cleared the 80 percent quota and 10-year tax holiday,” said the Shadow Minister for Treasury and Finance, Ian Ling-Stuckey.

A request has been given for a 10-year tax exemption by the developers and up to 80 percent control of the rice market in the country.  

Rice is attracting a lot of interest from countries in the likes of the Philippines, India and China to come in and invest.

At the moment, PNG is importing about 350,000 tons of rice per year, which equates to something close to K600 to K700 million.

The Naime Rice project is requesting to have 80 percent of that market and 10 years of tax holiday.