Malta is expected to receive an allocation of e8 million from the European Fisheries Fund for the period 2007-2013, it was announced yesterday.

The agreement was made after a Fisheries Council of Ministers meeting in Luxembourg, which Rural Affairs and Environment Minister George Pullicino attended on behalf of Malta.

Malta also proposed a gradual reduction in fishing quotas to find a balance between sustainable fishing and the promotion of fishermen’s socio-economic interests, which was taken up by the council.

The Fund will also be altered to allow aid for fishermen who want to modernise the engines on their boats, provided these do not increase in power. In this manner, fishermen will be able to use environmentally friendly fuels and reduce their energy consumption.

This should also lead to a reduction in operational costs, which would allow fishermen to make more profits and therefore, in turn, ensure that the fishing industry remains a sustainable one.

The fund has also established five priorities, which include the adjustment of the European Community’s fleet, aquaculture, processing, technical assistance and sustainable development of fishing zones.

These priorities will make up the basis of Malta’s Strategic Fishing Plan.