Province receives dividend

Business

THE Fly River government received their second batch of K7.2 million in dividends from Mineral Resources Ok Tedi No.2 (MROT2).
Governor Awi Taboi Yoto told the media in Port Moresby on Wednesday that from the K7.2 million, K720,000 had been allocated to subsidise school fees for Western students with the balance of K6.48 million being shared between the Fly River government (FRPG) and the three district administrations.
He said FRPG would get K2,592,000 while the three districts – North Fly, Middle Fly and South Fly – would receive K1,296,000 million each.
Taboi said the payment was part of dividend proceeds for the 2019 financial year from MROT’s equity in Ok Tedi Mine Ltd, and the shares were decided by the provincial council.

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