Minister of Fisheries Marine Resources and Agriculture Zaha Waheed has revealed the opportunity to apply for loans to install salt water ice plants on fishing boats would be open this year.
Speaking at the Parliamentary Committee on Government Oversight, Minister Zaha said over USD 220,000 has been issued in loans this year, adding the ministry intends to issue a total of USD 1.89 million in loans by the end of the year. She said the ministry expects the project to solve difficulties faced by fishermen in acquiring ice for their cold storages on fishing vessels. She added the setups will increase time fishermen spend on fishing and reduce current queues at ice plants.
The loans will be issued under the Fisheries Development Programme of the ministry to reduce the time and cost spend in acquiring ice. The project is also expected to keep fish fresh and further develop the sector.
The ministry will award up to USD 45,395 in loans, with only fibre vessels eligible for the loan. The loan amount is expected to cover costs for 10 and 15-tonne ice plants and a generator set required to run the system. Additionally, the installation cost is also covered as part of the loan.
The ministry said a 6% interest will be charged for the loan. The loan duration is five years, excluding a 6-month grace period.