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Mismanagement of funds collapsed Wainikoro Fishing Cooperation

May 23, 2018 1:17 am

Minister for Fisheries, Semi Koroilavesau says the Wainikoro Fishing Cooperation in Vanua Levu needs to be revitalized after it collapsed.

Koroilavesau says mismanagement of funds resulted in its fall.

He adds the Ministry is currently working to revive the Wainikoro Fishing Cooperation.

“The Wainikoro situation resulted in the mismanagement of the funds that were allocated to the association for purchasing the marine products and the selling it off and then taking the profit as part of the collateral in continue to running the association.”

Koroilavesau says he has held had discussions with the Wainikoro Fishing Association and is working on finding a solution.

Koroilavesau adds the ministry can provide some funding to assist them on a loan scheme which they need.