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A New Credit Scheme For Fisheries Sector

3162 words - 13 pages

|ABC BANK PLC |
|PROPOSED CREDIT SCHEME FOR FISHERIES SECTOR IN SRI LANKA |
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|BY S K DESHAN MILINDA |
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|Date: 10/17/2012 ...view middle of the document...

Sri Lanka has nearly 480,000 hectares of estuarine and freshwater areas suitable for a wide range of aquaculture activities.

Sri Lanka’s national fish production was 340,000mt in 2009 & it has increased up to 445,000 in 2011 due to various factors, Actuality it is a 30 percent increase in production, due to accelerated fisheries development plans. Marine landings account for 86 percent of the production while inland fisheries contributes 14 percent. In 2005 the total production was only 163,000mt due to the destruction of the national fleet for Asian tsunami. Fisheries contributes to 1.7 percent of the national GDP.

Since there is only limited scope for expanding the coastal sector , the main thrust area of increase production is the offshore and deep sea sectors. Over the last two year period production from this sector has increased from 110,000mt in 2009 to over
160,000mt in 2011. Sri Lankan government has taken some measures to prohibit destructive fishing methods such as bottom trawling, light fishing, small mesh nets, explosive etc. In addition to that government has negotiated with Indian officials also to stop invadings by foreign fishing boats & Sri Lanka Navy is guarding the maritime territory.

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Sri Lanka’s marine fisheries resources base has a total extent of 538,850 km2 and is rich in species diversity.
|Territorial Sea |21,500 km2 |
|Exclusive Economic Zone (EEZ) |517,000 km2 |
|Continental Shelf Area |30,000 km2 |

Fishing Societies

The important areas of fish production in the North & East of the country experienced civil unrest for almost three decades from 1983 onwards. As a result the contribution of these areas to national fish production, which stood at over 40 percent before unrest, dwindled to only 7 percent by 2007.After return of piece of the government is now doing its best to reestablish the sector to its former glory.

It is heartening to note that by 2011 the production has increased to 15 percent of the total, yet far below the targeted 50 percent. The national fishing fleet of over 57,000 vessels is basically artisanal in nature, out of which almost 40 percent are non-motorized. The fleet of multiday boats , with nearly 3,800 vessels contributes significantly towards over 160,000 mt landings from the deep- sea, Government are now in the process of redefining our fleet development plan taking in to consideration economy of operation in the face of rising fuel costs.
Government are moving a step further now to ensure that countries fishermen will not, accidently or by design , enter waters of another country. This We hope to do by installing vessel monitoring nits capable of tracing...

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