Fund shortage hampers plans to open Makira Cocoa factory

Shortage of funds has delayed the process to establish a cocoa factory in Makira-Ulawa Province.

Director of Economic Division within the Ministry of Planning and Aid Coordination Andrew Pracas confirmed, an M-O-U for the factory was already set, pending consultation with stake holders.

He said as soon the money was raised they would conduct consultations with stakeholders about the M-O-U before signing it.

Mr Pracas explained the consultation was to make sure the M-O-U included all the stake holders.

“The MOU is already set, the only things is to go through the MOU and see whats missing and what should be included, because it’s a partnership between Makira province, national government and the private sector, We just have to take things straight , in case we leave something out and one stakeholder is affected, so we don’t want any stakeholder to be affected.”

Mr Pracas added  they would soon raise funds for the project.

Meanwhile, the Director of Industrial Development Division within the Ministry of Commerce, Industries, Labour and Immigration Mr Jacob Gala said his Ministry was in the process of raising funds for a cocoa project in Kirakira, Makira-Ulawa Province.

He explained the Ministry had passed the budget, so they would acquire the funds soon.

Mr Gala also clarified the Development Budget under the Industrial Estate and Commercial Development is funding the project.

By: Allen Waitara.