There is no denying fact that skyrocketing fuel costs have put immense pressure on fishermen and so there were waves of protest demanding fuel subsidies. But the subsidies should be spent on fishers then it could lead to long-term sustainable fisheries. The fuel subsidies currently given to fishing fleets but the government should use them to invest in re-training for fishers, says University of British Columbia fisheries economist Rashid Sumaila.
According to Sumaila the overwhelming demand from the fishing industry is for governments to increase fuel subsidies to offset higher fuel costs, which constitute up to 60 percent of the cost of fishing. Sumaila also added that it would simply dig a deeper hole both economically and environmentally. In a study Sumaila track the economic impact of government fuel subsidies since 2002. According to him governments around the world spend $6.4 billion annually on fuel subsidies for fishing fleets, 80 per cent of which are handed out by governments in developed countries.
Last week the European Commission announced that it would released up to 600 million euros in aid to EU fishers to help them cope with increasing fuel prices. Sumaila told that many of these operations would not be economically viable if not for these subsidies. His team of researchers said that more than half of the employers in the marine recreation sector indicated they’d be willing to hire fishers. This shows that trained fishers will be in demand and will help the fishing industry in a great way.
