National Fisheries Authority (NFA) is focused on increasing its revenue in the fisheries sector according to Managing Director Justin Ilakini.
Mr. Ilakini made this statement this morning after handing over a K402 million cheque to Treasurer Ian Ling-Stuckey as part of NFA’s Non-Tax-Revenue Administration (NTRA) contribution to the state.
“This morning was an occasion where we want to tell the people of Papua New Guinea and our people in the sector that we have been contributing to the government a consolidated revenue so that goods and services can go down to the level of our people.”
He added last year, they contributed K203 million Kina to the consolidated revenue as part of NFA’s NTRA contribution, and this year, they will be contributing over K208 million, which amounts to over 400 million Kina in the last 24 months.
NFA’s fiscal contribution constitutes 54% of the total NTRA contribution to the government this year, making it the largest contributor in terms of consolidated revenue.
“I’m really proud on behalf of the staff and the board that we have been able to raise that kind of money so that we can support the government in its commitment to our people.”
He added that since 2018, NFA has contributed almost K2 billion to the consolidated revenue, and this is the result of important reforms they have been rolling out to transform the landscape of the fishing industry in PNG.
“Some of the work that we have been doing is now bearing fruit.”
“So, we’ve set 2025 apart as a year of full implementation of those reforms.”
“We are hoping that we’ll be able to maximize economic returns from the fisheries resources back to our people.”