The government has set a target of doubling fisheries export earnings from US$300 million to US$600 million by 2030, backed by a Rs 6.2 billion allocation in the 2027 Budget.

President Anura Kumara Dissanayake announced the package in Thursday’s Budget speech, directing funding to harbour upgrades, research, inland fisheries and resource management, NewsFirst reported.

Where the money goes

The largest single item is Rs 5 billion for fisheries infrastructure in the Northern Province, covering anchorages and the Pesalai Fishery Harbour — a figure the Daily Mirror’s sector breakdown also records. A further Rs 1.5 billion goes to Gandara Fishery Harbour, and Rs 300 million to the Chilaw and Wellamankara harbours.

The Peliyagoda Fish Market, which NewsFirst describes as hampered by inadequate sanitation, limited cold storage and long-standing waste management problems, is to receive Rs 1 billion in equity capital for modernisation under a new business management structure.

Other allocations: Rs 1 billion for resource management including ocean surveys, habitat mapping, fish stock assessments and ecosystem restoration; Rs 500 million to North Sea Limited for net manufacturing and repair facilities; Rs 300 million for the Polonthalawa Aquaculture Development Centre; Rs 250 million to expand cage fish farming in inland reservoirs; and Rs 200 million for the Ceylon Fisheries Corporation’s retail network.

Credit and compensation

Separately, Hiru News reported that large-scale operators with export potential — along with fish product suppliers, boat builders and fishing gear manufacturers — will be able to borrow up to Rs 500 million at a 5% annual interest rate through banks for modern technology and other inputs. The scheme is expected to channel Rs 15,000 million in lending, with Rs 1,000 million provided as an interest subsidy.

Compensation paid to the families of fishermen who die in work-related accidents is to double from Rs 1 million to Rs 2 million.

Not reported

No filing states the baseline year for the US$300 million figure, or gives a timetable for the Peliyagoda restructuring.