Role of the state and financial institutions in financing the fishing industry

The experience of the Government in the recovery of loans for 28 foot mechanized vessels has been unsatisfactory. The author examines the various aspects which have contributed to this situation, and considers arrangements for financing purchase of such vessels. The risks associated with the investment in 38 foot vessels are high, and it seems that the reluctance of private investors to make the required contribution from personal funds is a result of fear of the unknown. Current incentives provided by the Government to the private sector for the purchase of 38 foot vessels are considered to be adequate.

Financial assistance for purchase of large fishing vessels

The Government of Sri Lanka is improving off-shore and deep-shore fishing by introducing more sophisticated and larger vessels into the Sri Lanka waters, together with the offer of subsidies, tax holidays and other concessions to those who seek to operate such fishing vessels. As a first step, some thirty 38 foot class fishing vessels are to be introduced. The requisite variety and quantity of fishing gear is supplied together with the vessels, and operators will be given further assistance to either export or market their catches locally by provision of insulated fish transport vans, jeeps with trailers, crushed ice plants, fish storage cabinets and adequate spares for at least the next few years. A description is given of the credit terms offered for the purchase of such vessels, pre-shipment finance, and loans and hire purchase facilities.

Private sector to invest in off-shore fishing and to encourage the financial incentives to be introduced for deep-sea fishing in Sri Lanka

The author discusses the financial aspects of private sector investment in off-shore fishing, with particular attention to tax incentives, such as those offered to tourist hotels, which are considered applicable to the current case of fishing vessel purchase, and the operation of the vessels themselves, hiring, publicity and profitability. Tax incentives which were introduced to encourage investment in the tourist industry should be introduced to encourage investment in the fishing industry on the lines presented. It is essential that wide publicity be given for the incentives introduced so as to achieve the desired results.

Economic losses/gains attributed to the water hyacinth

This is the report of a research study aimed at providing an understanding of the fishing communities and institutions about the water hyacinth problem and how it impacts on their activities. Its also provides strategies for sustainable control of the weed. The research reports are intended to disseminate the findings of the studies carried out under the Socio-economics Sub-component of LVEMP to a wide spectrum of users, including policy makers, stakeholders and researchers.

Water imbibition and thawing losses from frozen prawn meat

Prawn meat which was never in contact with ice or water prior to freezing was frozen at -30°C and was studied up to six months of storage at -23°C for thawing losses and cooked characteristics of the thawed material. Thawing loss was nil in unwashed samples after three days of storage and it gradually increased to 6.6% after 6 months compared to 6.0 and 18.2% in the washed samples during the same periods. It is inferred that the high thawing losses observed in commercial frozen prawn meat immediately after freezing may be mainly an after effect of the water imbibed during the pre-freezing stages. During frozen storage, the changes in texture observed by sensory methods on the cooked product were more in the washed sample indicating that the imbibed water or constituents washed out of the tissue play an important role in textural changes in prawn meat during frozen storage.