Source: SunStar

The Department of Agriculture (DA) has extended a loan of P15 million (USD 310,000) without interest for a mature tuna producer in General Santos City to upgrade its fishing fleet, officials said Friday.

The DA in Central Mindanao inked the loan agreement with JK Fish Trade, which is owned by Jeremy S. Kintanar, under the Agricultural Competitiveness Enhancement Fund (Acef).

Kintanar said his company was able to avail of the loan by providing an equity of P10 million (USD 205,000).

The entire fund will be used to make two additional hand-line tuna boats replete with 30 pakuras or smaller boats that hunt adult tuna stocks in the high seas, he said.

JK Fish currently operates two hand-line tuna boats, which employs the hook-and-line fishing method to capture large tuna usually marketed in fresh form to domestic and international markets.