PNG Fisheries body pays healthy dividends

8:05 am on 28 July 2015

The Papua New Guinea National Fisheries Authority has made a dividend payment of almost 12 million US dollars to the national government.

PNG Loop reports the Fisheries and Marine Resources Minister Mao Zeming as saying the 11.7 million dollars stems from surplus funds in statutory and access fees that the NFA collects from the fishing industry.

Filipino fishing vessels docked in Madang, PNG.

Filipino fishing vessels docked in Madang, PNG. Photo: RNZ / Johnny Blades

In total the NFA has paid US$39 million in dividends to government since 2012.

Underlining the importance of the fisheries sector to PNG's economy, Mr Zeming says it contributes about 4% of total GDP.

He says the government is shifting emphasis in the sector to onshore processing to add value to products and create more local jobs and economic opportunities.

The minister says onshore investments are currently producing 2,000 metric tonnes of fish per day, and employing 40,000 people, 90% of whom are women.