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Fishery Harbours Corp. makes comeback with Rs. 14 m profits

PROFITS: The Ceylon Fishery Harbours Corporation (CFHC) has recorded Rs. 14 million profit during the first eight months of this year. The Corporation incurred a Rs. 66 million loss during last year and it was Rs. 33 million in 2004.

Chairman of CFHC Asanga Abeyagoonasekera said that dredging, leasing lands, catering for vessels were been the main income generators for the Corporation.

Cost cutting strategies adopted by the CFHC also helped the organisation to recover from the losses that it had been incurring for the past few years.

Dredging has contributed Rs. 8 million to the total earnings by providing 100,000 cubes of sea sand for the local market.

We have identified the Kirinda harbour as a natural sand filling point. Currently dredger Weligouwa is in operation at Kirinda. CFHC expects to enhance this sector as one of their main income generators since there is a huge demand for sea sand in the construction industry, he said.

Last year there were only 212 foreign vessels to Sri Lanka but during this year this increased to 276.

This segment also contributes lot for the total income. Last year Sri Lanka earned Rs. 100 million through foreign vessels.

Most of these vessels come from Indonesia, China, Taiwan and Philippines. CFHC provides water and fuel and other services for these vessels. There should be attractive charges available for these foreign vessels to attract more of them to the country, the Chairman said.

CFHC is focused on linking all the fishery harbours in Sri lanka to monitor all harbours at a one place.

"We are planning to implement vessel-tracking system to prevent unauthorised vessels entering to the exclusive economic zone of the country, he said.

Plans have also been made to setup a waste fish processing plant to manufacture animal feed investing Rs. 2 million.

Reconstruction work of the Kirinda fishery harbour has been completed. The Panadura fishery harbour is also scheduled to be completed this year.

CFHC also expects to complete the reconstruction work of Beruwala and Kudawella harbours in the first quarter of next year. Mirissa, Hikkaduwa, Tangalle and Galle fishery harbours will be completed by the end of 2007.

Japan has funded Rs. 700 million for the reconstruction of Galle and Tangalle fishery harbours. China has funded Rs. 900 million for Panadura, Beruwala and Kudawella harbours.

USAID has provided Rs. 1 billion for Mirissa, Hikkaduwa and Puranawella.

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Produced by Lake House Copyright 2006 The Associated Newspapers of Ceylon Ltd.

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