MercoPress. South Atlantic News Agency

Falklands fisheries income estimate down

Falkland Islands Fisheries income is likely to be 3 million pounds short of the predicted 24 million pounds for the 2003/2004 budget the Standing Finance Committee was informed last week in Stanley.

Addressing his fellow committee members Councillor Mike Summers said he thought it was unlikely that unpaid fees would be picked up at this stage.

"Given the way the Illex season is developing so far even if they have taken up licences they are not going to be paying bad debts", indicated Mr. Summers.

According to the latest squid catch reports, not only has the season proved late in beginning but volumes have been below the expected levels both in Falklands and Argentine waters.

Fisheries licences represent half of the Falklands government revenue estimate for 2003/04, (48 million pounds).

The committee also heard that the charter flight ban of this season (following Argentina's decision), had hit Customs income, which is likely to be around £ 200,000 short of expectations.

The Falklands budget original estimate for Customs & Immigration was established in 2,3 million pounds.