Financial Secretary Office News

Financial Secretary Office News

Manihiki Pearl Farmers Begin to Receive Equipment to Revitalise the Pearl Industry in the Northern Cook Islands

The Manihiki Island Government has commenced dispersing pearl equipment supplied as part of the Cook Islands and New Zealand pearl revitalisation programme.  The programme aims to encourage the sustainable growth of the Cook Islands pearl industry through an increase in production and quality.

Eighteen pearl farmers on the Manihiki atoll in the northern group have qualified to receive a portion of the $1.15 million grant. This will be injected into their businesses through the provision of various types of equipment which will assist them to improve production and quality. The equipment include items such as ropes and floats, which are used directly to suspend the pearl producing oysters in the lagoon, as well as building equipment used to revitalise seeding facilities. To be eligible to receive equipment farmers were required to meet specific criteria:

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Cook Islands Confirms Participation in the Pacific Catastrophe Risk Insurance Pilot

The Cook Islands Government has confirmed its participation in the Pacific Catastrophe Risk Insurance Pilot (PCRIP), which was renewed for its third season with five other Pacific island countries: Marshall Islands, Samoa, Tonga, Vanuatu, and Cook Islands. The third season will run from November 1, 2014 to October 31, 2015.

As of 1 November 2014, the Cook Islands is covered against emergency losses caused by major Tropical Cyclones for a 12 month period until October 31, 2015. The premium of USD100,000 paid by the Government was able to secure catastrophe risk insurance coverage which will provide an immediate payout of up to USD2.8 million in the case of a major tropical cyclone hitting the major centres of Rarotonga and Aitutaki.

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Clarifying Issues Around Applicable Standards for Te Mato Vai

Recent press on quality assurance processes around the Te Mato Vai ring main construction has not captured the level of quality assurance processes which are being undertaken to ensure the quality of the ringmain pipeline.

The previous quality assurance process which was applied during the construction of the pipeline laid through the “Project City” project involved only testing for water pressure.

As Mr Latu Kupa, project manager Te Mato Vai clarified in his letter to the Editor of the Cook Islands News, the laying of the pipeline for Te Mato Vai has undertaken a more stringent two stage testing process. The first stage being water pressure testing, to test for leaks in the pipes, the second test being peels tests to check the adhesiveness of the electro fusion welds that join the separate lengths of pipe.

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