Chinese loan eyed for Madang project

By CLIFFORD FAIPARIK
National Planning and Monitoring Minister Richard Maru says they will get a loan from the Chinese Exim Bank to develop the incomplete Pacific Marine Industrial Zone in Madang.
Maru said this on Wednesday when addressing the Consultative Implementation and Monitoring Council National Development Forum in Port Moresby. He said the Government was hoping the loan would be approved this week with construction to start next year.
“We have to process and export fish products,”Maru said.
“We don’t need to export all our fish overseas for processing.
“We are losing 20,000 jobs and so much tax by doing that.
“We need to process our fish onshore.”
Maru said PNG could reduce the K400 million spent on importing dairy products by setting up dairy farms at Ilimo Farm outside Port Moresby and Yalu outside Lae.
“These farms can also create more jobs for locals,” he said.
Maru said that there was no need for Papua New Guinea to invest in Fiji when superannuation institutions could invest in their own country and create jobs.
“It took PNG 40 years to develop agro-industrial projects to grow the national economy,” he said.
“We are looking at setting up another dairy farm at Yalu outside Lae because milk production from Ilimo Farm outside Port Moresby is always running out at the super markets.
“We will produce rice in Baiyer valley in Western Highlands and Sepik Plains in East Sepik.”