KARACHI, May 8: Boat-owners and fishermen will be provided easy loans for modification of their boats as required by the European Union.

The managing director of Karachi Fisheries Harbour Authority has held a meeting with a representative of Habib Bank to discuss the loan facility. The meeting was attended by a representative of Sindh Trawler Owners and Fishermen Association.

The KFHA official told the meeting that out of 2,390 boats/fishing vessels, registered with the Authority, about 2,200 needed the loan facility. He said that only 100 vessels could have been modified over the past three years due to financial reasons.

According to an estimate, fish-hold modification in a boat/ trawler costs between Rs250,000 and Rs300,000.

The bank representative told the meeting that the bank’s decision would be communicated to the Authority after necessary consultations with the higher authorities. However, he made it clear that guarantee against loan would have to be provided by the loan seekers.

The KFHA has proposed a two-three per cent cut in the normal markup for the loans to be extended to fishermen and boat-owners.

The boat modification programme was introduced about three years back by the KFHA on the recommendation of the European Union which had been asking the boat-owners to modify their fish-holds.

However, the programme could not be implemented effectively because of financial constraints.

UNION: Office-bearers of the KFHA Employees Union called on the Minister for Fisheries, Manzoor Ali Khan Panhwar, who is also chairman of KFHA, and apprised him of the problems confronting the workers.