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NFA Pays K50 Million Dividend Payment to the National Government Minimize

 

NFA pays K50 Million dividend payment to the National Government in October 2015. Recently NFA has also paid K25 million dividend payment to the government. A total of K75 million paid to the National Government. On behalf of NFA, Board Chairman, Job Pomat presented the cheque payment to the National Government. 

On behalf of the Minister for Fisheries & Marine Resources, Hon. Mao Zeming, the Board, the Managing Director Mr. John Edward Kasu and the management and staff of the National Fisheries Authority, Chairman of National Fisheries Board Mr Job Pomat presented K50 Million to the National Government.  Recently NFA paid K25 million and this was additional dividend payment; a total of K75 million dividend payment to the government this year (2015) . Chief Secretary to Government Sir Manasupe Zurenuoc when receiving the cheque payment thanked and commended NFA and its team for the support. “On behalf of the government I commended NFA for the continuous dividend payment to the government every year. I commend the Minister for Fisheries and Marine Resources, the Managing Director and the board and staff for the commitment and support towards the government", Sir Manasupe said.  

Mr Pomat said the National Fisheries Authority is not a commercial entity but a corporatized non-commercial statutory authority mandated to regulate fisheries in the country by managing and developing fisheries and has played a significant leadership role in regional fisheries conservation and management.

Mr Pomat further stated that European Union issued a Yellow Card to NFA in June last year which was a set back for NFA that devoted significant resources and time in addressing the issues highlighted. This was further complicated by the emergence of the El Nino and movement of stocks to the east of the Western Pacific Ocean.

Most revenue the Authority generates comes from our tuna resources through fishing access fees from our bilateral fishing partners including Japan, Korea, China, Taiwan (ROC) and the Philippines. However, the revenues from access fees will decrease in the coming years as the government continue to promote onshore processing of our tuna resources. The benefits of onshore processing will be in the form of employment, tax returns and spin-off businesses. The Authority may also lose revenue from tuna given the overall slowdown in global economic growth and fall in the price of tuna.

In making this K50m payment to the O’Neil/Dion Government, the National Fisheries Authority looks forward to the continuous support of the Government in ensuring fisheries development in the country is given priority.

 

 

  
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