Rubber gets K500,000 funding for development

Business

NORTH FLY Rubber Limited chairman Warren Dutton says nearly 14,000 families in Western survive on rubber farming and the lack of funding was affecting them.
Dutton said this when receiving a K500,000 funding from North Fly MP James Donald, pictured, last week.
It was part of Donald’s plan to revive the industry in his electorate.
“The funding demonstrates the strength and importance of rubber. We have been waiting patiently for funding,” Dutton said.
“We had a K44 million funding agreement with PNG Sustainable Development Programme.
“That ceased when government took over Ok Tedi Mining Limited (OTML).
“Almost 11,000 of about 14,000 farmers got some help before the cessation of the agreement. K44m was to subside rubber freight and transportation.
“K29m of that funding was used to assist 11,000 farmers.
“The farmers input through the funding brought back K60m. This is three times the input.
“Under the agreement, Ok Tedi Mining Limited agreed to ship our rubber. But that’s all stopped when government took over OTML in 2013.”
Dutton said Western rubber produced in their factory is used all over the world.
He said since the industry involved 14,000 families in the province, funding had been a problem.
Dutton said the industry needed funding to survive and to assist farmers earn something.

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