MP wants shares in fishing companies

 TRADE, Commerce and Industry Minister Richard Maru plans to take to Cabinet a submission to allow PNG shareholding in every fishing company in the country.

He said this would enable local representation in decision-making in the country’s fishing industry.  

“It is my intention to bring a submission to Cabinet to make sure every fishing company in PNG should have a Papua New Guinea shareholding,” he said.

“That in my view should be a condition for those companies that want to come and establish an operation in Pacific Marine Industrial Zone.

“In the mining and petroleum sector, the law specifies that landowners will have shares, the State will have shares. 

“Why haven’t we done that in the fisheries sector?” Maru said he would also submit to Cabinet that tax be imposed on all fish leaving Papua New Guinea shores – an export tax.

He said another submission would be to ensure foreign fishing companies had processing facilities in the country. 

“At the moment, 60 per cent of our fish is sent overseas to be processed,” he said.

“The objective behind PMIZ is that we will provide land and provide facilities for all fishing companies and new ones to build processing facilities onshore so that all our fish is processed in the country.

“This PMIZ project will now bring in ten more fish processing plants in Madang, on top of the five in Lae and the one in Wewak.”