60% fish quotas to be auctioned

Cabinet, following consultations with the fishing industry, has resolved to auction 60 per cent of the country’s fish quotas to the highest bidder, whether local or international.This according to Fisheries and Marine Resources Minister Albert Kawana at a media briefing held in Windhoek, is in order to assist in purchasing equipment needed to mitigate the impact of Covid-19.According to Kawana, the decision made on 04 August, also resolved to reserve 40 percent of the quotas for local operating companies.“The quotas reserved for locals will be divided into two streams, namely; wet fish, of which 30 percent is to be allocated and frozen which is to be allocated at 70 percent, at a different reserve price each.Meanwhile, the 60 percent open to both local and international companies will also have a different reserve price,” Kawana explained.The minister also stated that the quotas which are to be auctioned to both local and international bidders are not that significant, as an only limited percentage of metric tons (MT) of an allowable catch will be available to these bidders.“For example, out of 154 000 MT of total allowable catch (TAC) for hake, only 6 600 MT or 4.3 percent will be available to both local and international bidders. 95.7 percent remains for local utilisation.Out of 330 000 MT of TAC for horse mackerel, only 43 200 MT or 13 percent will be available for both local and international companies. This leaves 87 percent for local utilisation.”TransparencyKawana noted that auctioning, which complies with international standards, promotes transparency and avoids the experience of the past as the money to be generated will be paid directly into the State Revenue Account as per the requirements of the State Finance Act of 1991.“Thereafter, a budget during the mid-term review will be prepared and ultimately tabled in Parliament. The other advantage, unlike in the past, is that there will be full accountability because all monies paid into the State Revenue Account, will be audited by the Auditor General,” he highlighted.The minister assured that his ministry will not handle the money, an approach which is intended to promote transparency and accountability.He emphasised the Government’s committed to preserving employment of the Namibian citizens in all sectors of the economy. - Nampa

60% fish quotas to be auctioned

Kommentaar

Republikein 2025-11-04

Meld asseblief aan om kommentaar te lewer

60% fish quotas to be auctioned

Kommentaar

Republikein 2025-11-04

Meld asseblief aan om kommentaar te lewer

Intekening vereis om toegang tot inhoud te kry. ×

MELD AAN

Advertensie

Intekening vereis om toegang tot inhoud te kry.