XN000022-1980-06-29 — Page 3

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SUNDAY, JUNE 29, 1980

FISHERMEN RECEIVED $5.8 MILLION IN

LOANS LAST YEAR ****

FISHERMEN LAST YEAR RECEIVED LOW-INTEREST LOANS TOTALLING $5.8 MILLION TO HELP IMPROVE FISHING OPERATIONS.

THIS BRINGS TO MORE THAN $93 MILLION IN TOTAL LOANS ALLOCATED SINCE 1946 FROM THE FISH MARKETING ORGANISATION LOAN FUND, THE FISHERIES DEVELOPMENT LOAN FUND, THE WORLD REFUGEE YEAR LOAN FUND AND THE CO-OPERATIVE FOR AMERICAN RELIEF EVERYWHERE (CARE) LOAN FUND.

THE FUNDS ARE ADMINISTERED BY THE AGRICULTURE AND FISHERIES DEPARTMENT.

THEY HAVE AT PRESENT A COMBINED CAPITAL OF $14.4 MILLION. LOANS ARE GRANTED TO HELP FISHERMEN BUILD OR REPAIR VESSELS, PURCHASE MORE EFFICIENT FISHING GEAR AND NAVIGATIONAL AIDS, AND DEVELOP MECHANISED PRODUCTIVE TECHNIQUES.

TODAY, 90 PER CENT OF HONG KONG'S FISHING VESSELS ARE MECHANISED AND IN 1979, MORE THAN 90 PER CENT OF THE FRESH MARINE FISH CONSUMED HERE WERE CAUGHT BY LOCAL FISHERMEN.

A SPOKESMAN FOR THE DEPARTMENT'S CREDIT SECTION SAID 129 FISHERMEN RECEIVED THE $5.8 MILLION LOANS.

+OF THE TOTAL, $4.9 MILLION WAS ALLOCATED FROM THE FISH MARKETING ORGANISATION LOAN FUND, HE EXPLAINED.

+THE BIGGEST SINGLE LOAN GRANTED WAS $300 000 FOR THE CONSTRUCTION OF A 27-METRE TRAWLER, HE SAID, ADDING THAT THE AVERAGE LOAN WAS ABOUT $45 000.

INTEREST IS CHARGED AT THREE TO SIX PER CENT PER ANNUM AND THE REPAYMENT PERIOD STRETCHES FROM A FEW MONTHS TO 15 YEARS OR MORE, DEPENDING ON THE SIZE OF THE LOAN.

+TAKING INTO CONSIDERATION THE UNSTEADY INCOME OF THE FISHERMEN, REPAYMENT IS USUALLY MADE BY DEDUCTIONS OF 15 TO 20 PER CENT OF THE PROCEEDS OF SALE OF CATCHES, HE SAID.

+FISHERMEN OR REGISTERED FISHING COMPANIES CAN APPLY DIRECTLY FOR A LOAN WHILE MEMBERS OF REGISTERED FISHERMEN'S CO-OPERATIVE SOCIETIES MAY APPLY THROUGH THEIR SOCIETIES, THE SPOKESMAN SAID.

TO FACILITATE APPLICATIONS AND PROCESSING, THE DEPARTMENT OPERATES LIAISON OFFICES IN 10 FISHING CENTRES. PROCESSING NORMALLY TAKES ABOUT A WEEK, BUT LARGER LOANS TAKE LONGER.

THE SPOKESMAN SAID THE DEPARTMENT IS CONSTANTLY WORK ING TOWARDS IMPROVING THE EFFICIENCY OF THE FISHING INDUSTRY IN HONG KONG. THIS IS DONE THROUGH THE PROVISION OF TECHNICAL ADVICE IN. FISHING, HE ADDED.

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