Fisheries Authority presents K25m to State

Caption: (L) Chief Secretary Sir Manasupe Zurenough  receiving the cheque from Fisheries boss John Kasu.

By MATTHEW VARI

Sunday, November 30, 2014 (Sunday Chronicle, PNG)

THE National Fisheries Authority presented a cheque of K25 million to the National Government on Thursday as part of its dividend payment.

It brings to total the authority’s payments to the state at K55 million kina.

National Fisheries Authority Managing Director John Kasu explained that the Fisheries Authority Act states that any surplus should be given back into consolidated revenues of government.

“Since our inception we have been paying dividend back to the government every year- we paid in 2012 K5 million, last year 2013 we paid a total of K50 million to the government and this year we paid three lots of dividend to the government,” Mr Kasu said.

“Initially there was a K5 million that was paid early this year, followed by K25 million that was paid recently and this year we are here to pay the additional K25 million.”

“What normally happens with the budget, revenue comes from all the access agreements we have that NFA receives the income and budgets for its operation apart from its normal operation we have various other projects that we do out in the provinces.”

He said that Activities are funded by NFA, the surplus we have by the end of the year we pay back to the government by the end of the year.

On hand to receive the funds was the Chief Secretary of government Sir Manasupe Zurenough, who commended the authority for its contribution to the national purse.

“K25 million is a lot of money from a government institution, and we take the opportunity on behalf of the government I would like to thank Mr Kasu for their continued contribution to the government coffers,” Sir Manasupe said.

“I think as you all know Fisheries is a very successful government entity that continues to make a substantial amount of income and spend a lot of that on their own programs and plans and projects instead of going through the government budget they are able to fund a lot of their activities themselves.”

“But they are still able to have excess and are able to give back to the government.”

The Chief Secretary pointed out that the fisheries authority’s performance was a message to the other organizations to follow suit in giving back to the government instead coming in through the government budget all the time.