Sri Lanka to give subsidies to buy deep sea fishing vessels
ECONOMYNEXT – Sri Lanka will give a 50 percent subsidy to fishermen buying deep sea fishing vessels, Finance Minister Mangala Samaraweera said.
Multi-day boats wll get a 50 percent subsidy for cold storage facilities.
Deep sea boats over 55 meters long will also get a 50 percent subsidy he said, presenting a budget for 2018.
Sri Lanka will also give a concessionary 14 percent income tax rate for the fisheries business, he said.
Sri Lanka will also give land in Kilonochchi to start sea cucumber farms, he said.