Sri Lanka Approves Fuel Subsidies for Fishing Industry Amid Global Price Hikes

Kathmandu. As global fuel prices continue to rise, the Sri Lankan Cabinet has approved fuel subsidies for fishing boats to mitigate the impact.

According to the Ministry of Fisheries, the subsidy scheme will come into effect from April 20.

Under this scheme, small fishing boats will receive a subsidy of 50 Sri Lankan Rupees (approximately 0.17 USD) per liter of fuel. Similarly, multi-day fishing vessels that remain at sea for extended periods will receive a subsidy of 150,000 Rupees per voyage.

The Ministry stated that the Sri Lankan fishing sector has been facing severe challenges due to rising global fuel prices and supply disruptions caused by tensions in the Middle East.

In this context, the decision was made following a special discussion held on Sunday with the aim of providing relief to the fishing sector.

Through this subsidy, the government aims to reduce costs for fishermen, maintain production levels, and stabilize the overall fishing industry.