Face-to-face: Secretary for Food & Health Dr York Chow (second left) meets fishing representatives.

Secretary for Food & Health Dr York Chow has proposed three special measures to relieve the plight of fishermen in the face of high fuel prices.

They include waiving the license fee of fishing vessels for one year, exempting the interest of the special loan for the fishing moratorium this year, and relaxing the application criteria for the special loan for the fishing moratorium in 2008.

The first two measures will involve expenditure of up to $8 million which will be shouldered by the Fish Marketing Organisation. The Government will seek the views of the Fish Marketing Advisory Board on the arrangements.

Easing the burden

Meeting fishing representatives today, Dr Chow said he hoped the relief measures can ease the industry's burden so fishermen can continue to operate.

Currently, applicants are eligible for the special loan for the fishing moratorium only after repaying at least half of the principal of their loan of the previous year. Under the new arrangement fishermen can apply for the loan of up to $150,000 after repaying at least one-sixth of the principal of their loan in the previous year.

Fishermen who have repaid over half of the principal of their loan in the previous year can apply for an additional loan, with the amount capped at one-third of the loan amount for the 2007 fishing moratorium. Together with the maximum special loan of $150,000, a fisherman can borrow up to $200,000.

Deferring repayment

Fishermen with difficulties in repaying loans can apply to the Agriculture, Fisheries & Conservation Department for deferring repayment or restructuring their repayment plan. The department will consider the circumstances of individual borrowers in processing the applications.

The department will continue to assist in sustainable development of the fisheries industry through technical support, Dr Chow said.