|The Federal Government will be launching a buy back of Pacific Salmon|
Commercial Fishery licences in a bid to rebuild fish stocks
Another round of reductions of those in the commercial salmon fishery is in the future, with the Federal Government releasing details on Wednesday of their plan to rebuild the Pacific Salmon stocks by reducing the numbers of those who are fishing for them.
The next phase of a transformed harvesting sector by way of the launch of a voluntary Pacific Salmon Commercial Licence Retirement Program was introduced yesterday by Joyce Murray, Minister of Fisheries, Oceans and the Canadian Coast Guard,
As with licence retirement programs offered in the past, the Department plans to retire licences based on market values using a voluntary process.
The Pacific Salmon Commercial Licence Retirement Program, Pacific Salmon Indigenous Communal Commercial Licence Alternation Program and Derelict Vessel Mitigation and Gear Disposal Program are funded up to a total of $123 million as part of the PSSI.
Fund allocation is flexible and based on the extent of interest in each program.
There is an additional $8.36 million dollars remaining in the Pacific Salmon Treaty mitigation program that will be used to continue to support retirement of commercial Pacific salmon troll licence eligibilities.
Some further background on the scope of both the Pacific Salmon Commercial Licence Retirement program and the Pacific Salmon Indigenous Communal Commercial Licence Alternation Program can be reviewed below:
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The details to the Derelict Vessel Mitigation and Gear Disposal program is available for review below:
The full information release outlining how the program will work can be reviewed here.
An accompanying Background piece on the Pacific Salmon Strategy Initiative can be examined here.