$743.7M budgeted to enhance fishing industry
Updated: Feb 9, 2022
The Government has budgeted $743.7M to boost the local fishing sector in the 2022 National Budget.
This is inclusive of $200 million to introduce and develop marine cage fishing which will enhance the production of prawns and tilapia which Agriculture Minister Zulfikar Mustapha on Tuesday said is a new technology to Guyana.
"we will be outing mechanisms in place to improve the fishery, fishing sector, we will be improving the aquaculture sector and at the same time also to enhance fishing in the marine sector where we will bring, introduce marine cages to the fishing sector for the first time in the history in this part of the world"
The Minister was at the time addressing the National Assembly during the ongoing budget debates.
According to the 2022 budget, fishing is estimated to have grown by 11 percent in 2021. Notable increases were observed in production across all fish products, with the most significant growth observed for industrial finfish.
Undermining the sub-sector's overall performance, was a 13.5 percent decline in the production of shrimp. In this regard, Government facilitated the creation of an Aquaculture Committee, providing for the rehabilitation of 23 shrimp farms in Region 6.