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NFA Pays K60 million Dividend Payment to Government in August 2017 Minimize

Fisheries Sector Contributes K60 Million as Dividend Payment to the government in August 2017. Patrick Bsa, Hon. Minister for Fisheries and Marine Resources presenetd the cheque to the Deputy Prime Minister and Treasurer Minster Hon. Charles Abel.

National Fisheries Authority paid K60 million dividend to the National government recently. Minister for Fisheries and Marine Resources Hon. Patrick Basa presented the cheque payment of K60 million to the government at Treasury House in August 2017.  This payment was made after the government has requested NFA to pay K150 million in few months ago.  NFA could not pay K150 million on time; however K60 million was paid in response to the government’s request.

Minister Basa when presented the cheque said that the National Fisheries Authority is a self-financing government authority that generates its funding through statutory and access fees from the fishing industry. He said since the restructure of NFA in 2001, the Authority has paid a total of K380. 25 million to the Government until 2008 where the government requested NFA to invest the funds into impact fisheries projects in the sector.  In 2012 and 2013 NFA paid about K55 million each. Then in 2015 -2016, a total of K116 million dividend payment to the government.

“As Minister Responsible for Fisheries and Marine Resources, I wish to inform the government that Fisheries  contributed K60 Million as the dividend to the government”, Mr Basa said.

The currently active investments processing 2,000mt of fish per day have contributed immensely in generating around 40,000 jobs in the processing factories around the country for Papua New Guineans, majority of (~90%) which are girls and women. The fisheries sector is contributing a total of around 4% of the Total GDP.As Minister responsible for Fisheries & Marine Resources, I am pleased to pay to the National Government through the Minister for Treasury Hon. Charles Abel and the Department of Treasury the dividend payment of K60 million.