CASH LIFELINE FOR PAKO FESTA:
GEELONG’S biggest multicultural festival has been given a financial lifeline, as it deals with soaring costs.
Pako Festa 2019 has received an extra $10,000 from the city council after Mayor Bruce Harwood revealed organisers were “under enormous financial stress”.
Rising risk management and insurance fees were the major factor behind Diversitat’s struggles, Cr Harwood said.
Councillors unanimously agreed to the one-off emergency allocation, which comes on top of $72,000 already committed to the festival in February.
Diversitat CEO Michael Martinez said beefed-up security measures to protect the 100,000-plus crowd were a necessary investment.
“Because of what happened in Bourke St a few years ago, there are extra burdens in what we have to do in terms of bollards and safety,” Mr Martinez said.
“And Diversitat takes on that burden.”
The not-for-profit organisation is also spending extra on infrastructure, as it looks to provide more entertainment areas.
Mr Martinez said the grant and a recent four-year commitment from the Andrews Government would help ensure Pako Festa’s ongoing viability.
The Government upped its annual contribution from $100,000 to $150,000, to assist with the costs and to help with marketing and promotion.
However, Cr Anthony Aitken said the underlying issues threatening the event’s sus- tainability still needed to be addressed.
“This doesn’t solve the problem longer term.”
He called for the council to look at potentially creating a universal insurance coverage for major events, to help offset the large imposts on organisers.
Deputy Mayor Peter Murrihy said the dazzling one-day event was known to all associated with Geelong.
“We’ve grown up with it and it’s an event we’re all very proud of,” he said.
“It’s a day when everyone in our multicultural community celebrates as one and enjoys themselves. So I’m pleased we’ve agreed to provide this funding.”
Figures released by the council estimate that Pako Festa delivers an economic benefit of more than $5 million each year.