Cabinet green lights tax exemption for culture-based freshwater fishery project

Thursday, 2 May 2024 01:07 - - {{hitsCtrl.values.hits}}

Japan pledges $ 3 m grant for project’s sustainable development
Initiative aims to enhance food security, nutrition, rural livelihoods in Anuradhapura, Batticaloa, Mullaitivu, Monaragala districts

In a bid aimed at promoting sustainable development in the freshwater fishery sector, the Cabinet of Ministers approved exempting taxes related to goods and equipment intended for the implementation of the project.

This decision comes in the wake of a grant agreement between the Government of Japan and the United Nations Food and Agriculture Organisation (FAO), under which Japan has pledged $ 3 million for the sustainable development of the Culture-Based Freshwater Fishery Industry. The project, designed to enhance food security, nutrition and rural livelihoods, will be executed in collaboration with the FAO.

Cabinet Co-Spokesman and Minister Bandula Gunawardena stated the proposed initiative is set to be implemented across Anuradhapura, Batticaloa, Mullaitivu and Monaragala districts, targeting selected reservoirs to boost freshwater fish production and ensure the sustainability of freshwater fisheries.

“By leveraging culture-based techniques, the project aims to enhance fishery yields while safeguarding natural ecosystems,” he noted at the post-Cabinet meeting media briefing held on Tuesday.

The Cabinet of Ministers at its meeting approved the proposal presented by Fisheries Minister Douglas Devananda.