Tuna processor thanks State for K8.6 million rebate payment

The National Business

SOUTH Seas Tuna Corporation Ltd has thanked the Government for the K8.6 million it paid six processors under a new rebate scheme.
The payment was for January and covers 6652.17 tonnes of tuna the companies processed.
The rebate is paid at the rate of US$400 (K1280) per tonne of tuna processed in Papua New Guinea, and the scheme covers all businesses which have signed the agreement and are fishing in PNG waters.
National Fisheries Authority managing director John Kasu said: “Since the Government’s directive in 2017 for the NFA to implement the rebate scheme as early as Jan 1, I am pleased to say that the NFA has responded very well.
“The NFA has made significant progress to build in an appropriate system for the implementation of the rebate.
“We have been working tirelessly to develop the rebate guidelines and it is ready.
“My officers are also working very hard in the ports of Lae, Madang and Wewak to verify the invoices for January against the companies’ records.
“This is an important component that the NFA will continue to pursue throughout the implementation of the scheme.
“The verification and validation of the invoices is important to ensure the integrity, credibility and independence of the scheme.
“I am aware that companies have since increased their production. This is welcoming news but I urge the companies to ensure that this rebate is translated further down to increase employment, wages and working conditions of their employees.
“I urge the companies to be transparent when submitting their monthly invoices to the NFA.
“The NFA has also implemented the Government’s directive to forgo the past practice of selling discounted vessel days to companies in PNG. For the first tranche of vessel days for 2018 sold under the new arrangements, the NFA sold all the days at US$9700 (K31,040).
“For the second tranche (April 2018), the NFA will be selling the vessels days at US$10,500 (K33,600).
“The proceeds from the sale of vessel days will be used for the rebate payments and to support the NFA and a number of community infrastructure and development projects that the NFA sponsors on behalf of the Government.”