THE Minister for Fisheries and Marine Resources, Dr. Lino Tom, has presented a cheque of K5 million as Fisheries grant on behalf of the National Government to the Bougainville Government during the JSB meeting in Wabag recently.
“National Government through NFA continues to provide annual funding of K5 million as an interim arrangement to the Bougainville Government as per JSB Resolution of 1st July 2014 in Kokopo until such time fisheries revenue sharing formula is agreed by the both Governments.
“It is important that these funds are appropriately used towards implementation of activities agreed under the fisheries MOU with ABG,” said the Fisheries Minister.
The transfers of Fisheries Powers and Functions have reached a key milestone with the passing of the Bougainville “Fisheries Management Act 2020.” However, it is imperative that ABG give priority to developing the regulation of this Act.
The Minister also reminded the ABG that key outstanding activities which includes; strengthening capacity of fisheries officers, development of fisheries management plans, licensing regime and other related activities should be prioritized.
The Minister emphasized that once capacity within the Bougainville fisheries office is strengthen, they can now start generating their internal revenue within their 3 nautical miles
In terms of benefit sharing, NFA has secured the services of MRAG Asia Pacific (MRAC AP) to assist both Governments develop parameters including options for the benefit sharing arrangement of fisheries revenue associated with Bougainville waters.