Tonnes of horse mackerel going under hammer

THE Ministry of Finance and Public Enterprises, in collaboration with the Ministry of Fisheries and Marine Resources, has announced the auctioning off of 26 384 tonnes of horse mackerel.

According to a tender document, the funds raised would go towards government expenditure.

The tender conditions stipulate that bids must be submitted in multiples of 100 tonnes, with a minimum price set at N$3 500 per tonne for freezer fish and N$1 000 per tonne for wet fish.

Bidders are required to adhere to specific bidding procedures, including submitting their bids in sealed envelopes by 10h00 on 1 March either physically or via email, along with a non-refundable administrative fee of N$1 000.

To participate, bidders are also required to provide a bid security deposit or a bank guarantee, ensuring a commitment to settle the amount payable if successful.

The bid security deposit is payable into the state account and is non-refundable for successful bidders.

This will be netted against the total amount payable for the quota awarded.

The allotment of bids will be determined by the finance ministry, following the closure of the auction, with quotas allocated to the highest bidders at their bid prices.

However, the ministries reserve the right to reject bids that fall below the reserve price, or make partial allotments if necessary.

Successful bidders are required to comply with statutory requirements, including fishing period regulations, vessel licensing, and adherence to the Marine Resources Act.

Additionally, fees payable to the Fisheries Observer Agency and compliance with taxation laws are mandatory for successful bidders.

The tender conditions also emphasise that the allocated quotas pertain to the 2024 fishing harvest period, with no provision for refunding or reallocation to subsequent seasons.

The full auction results are expected to be announced by the end of March.