Market generates K30,000 per week


KOKOPO Market in East New Britain collects more than K30,000 weekly in fees, East New Britain Market Authority manager Herman Valvalu says.
He said the market collected K6000 to K7000 daily.
Kerevat Market collects K600 while Rabaul town market collects K2000 daily.
Valvalu told a visiting team from the Madang Urban local level government last week in Kokopo that the new market in Madang was capable of generating such revenue or more if the market authority implemented a strategic approach.
He told the team that Madang Market was bigger than Kokopo Market and it was likely to collect three times more in revenue.
That depended on management, he said.
Vendors at Kokopo Market pay K2 for a space to display their produce.
Some vendors pay for additional space.
Kokopo Market collects vending and toilet fees and spot fines.
“We collect spot fines from those who litter and chew betel nuts in the market area. The fine is K20,” Valvalu said.
He said the market authority was planning to collect parking fees soon.
Kokopo Market will soon be extended to meet the demands for other services.
Valvalu said there were areas in the market that were yet to be developed.
“Extension to the market is starting slowly,” he said.
“We are extending the market to complement Kokopo’s city status and also to encourage more local participation.”

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