SMEs earning K17mil

Business

By DALE LUMA in MAPRIK
MAPRIK, in East Sepik, currently has more than 600 registered agriculture SMEs (small medium enterprises) earning farmers K17 million since 2018, according to district administrator Joshua Himina
Himina, while making a presentation on the district’s agriculture programme rollout yesterday, said this had been a result of the district’s economic and infrastructure interventions in its 23 economic zones with the use of its DSIP (district services improvement programme) funds.
“We have been structuring our DSIP in a manner where we are focusing on infrastructure and economic sector,” he said.
“As a result, we continue to see economic growth in the district.
“The most important factor is putting down the foundation for agriculture, which is road infrastructure for our farmers.
“With the intervention since 2012, we were able see K48 million invested in terms of setting the foundation. Roads that were closed are now open.
“Our farmers now have access to and at least they can travel by PMVs into town and have access to markets and sell their produce.
“We have established the number of registered SME to be more than 600 SMEs for Maprik.
“We have about 26 major tax payers so you can see the business boom here.
“We have business houses from wholesales.
“That is because of people having money in their pocket and that has created the demand for services and business houses to come in.
“So we have 26 of them now confirmed by IRC (Internal Revenue Commission) in the district with a monthly sales of about K300,000 so you would expect K30,000 GST (goods and services tax) in a month.”
Himina said, however, they faced the issue of financial literacy and were now working with the Bank of PNG, Nambawan Super and MiBank to advocate the importance of a savings culture in the district.

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