NFA made K500m in 2018

The National Fisheries Authority (NFA) generated more than K500 million in revenue in 2018.
NFA managing director John Kasu told the leaders’ summit on Friday that some K2.3 billion in revenue had been generated from 2010 to 2017.
“We project the revenue to increase to about K600 million this year. The main stream revenue generation will come from tuna and the rest from (fishing) licences,” he added.
“We have also projected a five per cent increase (in revenue) for the next five years and we are looking at more than K700 million,” Kasu said.
He said under the public investment programmes (PIP), a total of K280 million had been invested since 2010.
“In 2018, K27 million was invested in PIP. Projections for up to 2019 stands at about K116 million over the next five years.
“Since 2010 a total of K1 billion had been paid in the form of dividends. Actual dividends for 2018 is a little bit more than K400 million and projections for this year would be K200 million, and projections up to 2023 would be up to K400 million,” he said.
“One of the main impact projects are the construction and development of town markets, including Wewak, Madang, Koki market (a project between NCDC and Moresby South, Alotau) and we are now looking at Kavieng next.
“These are the projects we are partnering with JICA, thanks to the Government of Japan who have assisted. Under the PMIZ project we are working closely with the Department of Commerce and Industry for that,” he said.