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Montevideo, September 26th 2018 - 15:25 UTC

Falkland Islands fisheries review recommends ITQs for Illex squid

Friday, May 25th 2018 - 07:47 UTC
Full article 9 comments

Moving the Illex fishery into the ITQ system and improved catch verification requirements are among the recommendations made by an independent review of the Individual Transferable Quota (ITQ) system published by the Falkland Islands government, FIG, this week. Read full article

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  • Brit Bob

    Argentina's Continental Shelf Claims and The UN CLCA Commission (1 page):-
    https://www.academia.edu/33898951/Argentinas_Continental_Shelf_Claims_-The_UN_CLCS_Commission
    And what does international law say about the ownership of natural resources?

    May 25th, 2018 - 10:16 am - Link - Report abuse 0
  • portman

    itq for the other fisheries should also be disposed of by tender. it was obscene that a few select people were granted rights worth millions of pounds. like any other public assets itq should be sold by tender or auction to ensure the public purse gains the most benefit in the public interest subject to the normal condition that fig does not bind itself to accept the highest or any tender. what justification can there be to dispense with the tender process and distribute valuable public assets to a select few?

    May 26th, 2018 - 07:29 pm - Link - Report abuse 0
  • BrianFI

    do some research portman. Was all divided on historical catches to the folk who had been buying the same licenses for years. now we have some of the highest license fees in the world. your eyes look very green

    May 29th, 2018 - 02:14 am - Link - Report abuse 0
  • DemonTree

    Why should the people who've been buying the same licences for years be given them automatically? I agree with Portman, there should be an auction or tender and it should be a transparent process to avoid favouritism.

    May 29th, 2018 - 02:17 pm - Link - Report abuse 0
  • BrianFI

    they werent given them automatically, it was a long process which was transparent. if some else wants to buy a license they can approach a falkland islander who owns the itq and offer to buy it off them. after all these businesses have done for the falklands it makes me very angry to see a lack of appreciation.

    May 29th, 2018 - 04:08 pm - Link - Report abuse 0
  • portman

    eyes might be green but they are not looking through rose tinted specs like BrianFI. itq has a value as has been demonstrated from the trading that has happened since they were gifted. fig commissioned a study on the valuation of itq with industry participation which was needed by the tax authority and stakeholders for a bench line. itq should no longer be given away. some vendors have made millions and all that fig has received is the tax on the capital gain. licence fees are a separate matter. the value of the fees are set artificially and they are not excessive as demand remains greater than supply. they should also be set realistically by using market forces such as an auction. fisheries companies are commercial entities and their main purpose like other companies is to generate maximum profit for the benefit of their shareholders. nothing wrong with that but they are not charities and should not be treated as such. companies who need assets such as crown land are not gifted it so why should itq be treated differently?

    May 29th, 2018 - 06:26 pm - Link - Report abuse 0
  • BrianFI

    portman you are wrong. itq was not “given” away, it was paid for in cold hard cash. and licenses are bought every year in cold hard cash. some of the highest license fees in the world, to the point its almost unreasonable. itq aint forever either, it was for 25 years to be reviewed half way. so quite your bitchin and be grateful for what the fishing companies have provided

    May 29th, 2018 - 07:00 pm - Link - Report abuse 0
  • Juana

    England will return the Malvinas within 25 years.

    May 30th, 2018 - 02:16 am - Link - Report abuse -2
  • falklandlad

    BrianFI, I note your assumption that portman is a FI resident(?), but for sure his trendy bitchin indicates he really needs to get a life.

    Jun 01st, 2018 - 11:54 am - Link - Report abuse 0

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