the Hon. President has directed the Treasury to implement a fuel subsidy for the fishing community, effective from October 01. This measure is intended to boost the fishing industry and lower production costs for fishermen.
The fuel subsidy will be available on a monthly basis for both multi-day and one-day fishing vessels. Similar to the agricultural subsidy, this funding will also be directly deposited into the fishermen’s bank accounts.
The government’s policy statement underscores the goal of developing and managing the fishing industry in a sustainable and environmentally friendly manner. This approach aims to enhance fish production, making it more accessible to consumers at fair prices, while also improving the quality of life for those involved in the industry.
Furthermore, efforts will be made to provide financial and technical support for the recovery of marine fisheries, which are currently facing significant challenges.
