The Government is seeking Parliament’s approval for an additional $20 million guarantee to support the modernisation of the Pacific Fishing Company Limited (PAFCO) processing facilities in Levuka, Ovalau.

Minister for Finance Esrom Immanuel moved the motion in Parliament, saying the proposed guarantee would allow the company to secure financing for essential plant and equipment upgrades.

PAFCO, which is 99.6 percent Government-owned, employs between 870 and 1,000 workers, with women accounting for more than 60 percent of its workforce.

The company is now working to diversify its markets and improve its financial position following the departure of Bumble Bee in July 2026.

The proposed funding will support upgrades to processing facilities, increase production capacity and efficiency, and help the company meet international food safety standards. It will also support efforts to secure sustainable tuna supplies and explore new market opportunities.

Mr Immanuel acknowledged PAFCO’s efforts to keep its operations running and retain its permanent workforce despite ongoing financial challenges.

If approved by Parliament, the additional guarantee will increase the Government’s total guarantee ceiling for PAFCO to approximately $31.3 million.

The proposal is aimed at strengthening the company’s long-term operations while protecting jobs and supporting livelihoods and economic activity in Levuka.