Papua New Guinea has discovered that illegal fishing by foreign vessels within its 200-mile economic zone limit can be a profitable venture. Last year, PNG National Fisheries Authority (NFA) reported that illegal fishing generated a total of K5.6 million for the country for the prosecution of illegal fishing vessels caught fishing in its EEZ. It predicts the number could increase this year.

Fisheries Minister, Ben Semri made the revelation at the launch of a fisheries credit facility in Port Moresby recently.

The facility will support a tuna tagging study and also provide opportunities for Papua New Guineans to obtain loans to set up small fishing projects.