JIS News

The Senate on Friday (April 3) passed the Conch (Export Levy) Act, which, when enacted, will allow the Government to impose a duty on conch intended for the overseas market.
Exporters of conch will be required to pay US75 cents per pound of conch during the 2009 season and the levy will be increased to US$1.00 per pound in 2010.
“It is expected that in the first year, given the current allocation, that we should collect just under $60 million and thereafter, approximately $75 million, based on a 400 metric tonne quota allocation,” said Minister without Portfolio in the Ministry of Finance and the Public Service, Senator Don Wehby, who moved the Bill through the Upper House.
He informed that the proceeds from the levy would go towards the establishment of the Fisheries Management and Development Fund, which is aimed at the sustainable management and development of the fisheries sector.
The fund is expected to offset the cost of implementing programmes for monitoring, control, surveillance and enforcement in relation to Jamaica’s limited conch resources. These programmes are expected to reduce illegal, unreported and unregulated fishing.
Opposition Senator Norman Grant, in his remarks, stated that the creation of the fund “it will certainly go a long way in ensuring that we certainly realise some of the potential that is within this particular industry.”

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