Major boost to fisheries sector with $743.7M budgetary allocation

The PPP/C Administration continues to implement strategic measures to help the fisheries industry overcome its challenges and encourage significant growth. 

To this end, Budget 2022 proposes some $743.7 million to develop the fisheries and aquaculture subsectors and improve the livelihood of fisherfolk.

In 2021, fishermen and women locally, were severely impacted by the decline in fish catches.  The same issue was experienced by many fisherfolk worldwide.

Government had facilitated the creation of an aquaculture committee, and rolled out a programme to promote the improvement of brackish- water shrimp production on the Corentyne Coast.  The project includes the rehabilitation of 23 shrimp farms along the Corentyne Coast.

Senior Minister in the Office of the President with responsibility for finance, Dr. Ashni Singh has said $230 million is budgeted for second phase of the brackish-water shrimp production initiative this year.

“Both phases are expected to raise aquaculture production by over 300 percent moving brackish-water shrimp production to 500,000 kg per annum,” Dr. Singh underscored Wednesday, during the 2022 Budget presentation in the National Assembly.

He said Budget 2022 also provides $200 million to introduce and develop marine cage fishing which will enhance the production of prawns and tilapia. This will provide an important alternative production modality for Guyana’s fisherfolk.

His Excellency, Dr. Mohamed Irfaan Ali had said with the marine cage project fisherfolk are guaranteed earning up to $8 million profit annually.

Also, this year, Dr. Singh noted that the greenhouse at the Satyadeow Sawh Aquaculture Station will be upgraded for the promotion of aquaponics, as a climate smart option for food production.

Further, research will be undertaken in indigenous high-value species and the use of local low-cost feed ingredients into aquafeed development.