The Government is seeking Parliament’s approval for an additional $20 million guarantee to help the Pacific Fishing Company Limited (PAFCO) modernise its processing facilities, strengthen operations and support employment in Levuka, Ovalau.
Minister for Finance, Hon. Esrom Immanuel, while moving the motion in Parliament, said the proposed guarantee would enable PAFCO to secure financing for essential plant and equipment upgrades.
PAFCO, which is 99.6% Government-owned, employs between 870 and 1,000 workers, with women making up more than 60% of its workforce.
Following the departure of Bumble Bee in July 2026, the company is working to diversify its markets and strengthen its financial sustainability.
The proposed financing will support:
✅ Modernisation of processing facilities and equipment.
✅ Increased production capacity and efficiency.
✅ Improved compliance with international food safety standards.
✅ Sustainable tuna supplies and new market opportunities.
Hon. Immanuel acknowledged PAFCO’s efforts to maintain operations and retain its permanent workforce despite financial challenges.
Subject to Parliament’s approval, the additional guarantee would bring the Government’s total guarantee ceiling for PAFCO to approximately $31.3 million.
The proposal aims to strengthen PAFCO’s long-term sustainability while supporting jobs, livelihoods and economic activity in Levuka.