Published On: Wed, May 10th, 2017

Somali Govt, Federal states discuss over fishing profits

Somalia’s Federal Government and the country’s regional administrations are holding secret talks in Seychelles over the share of the fishing resources revenue, Radio Shabelle has learnt.

United States and several International organizations, are mediating the talks, to reach an agreement allows the western companies for fishing in waters of Somalia, according to the sources in Seychelles.

The meeting was first held in Mogadishu last month, but, it ended in failure.

Preliminary reports indicate that the regional administrations have suggested a sharing quota of 70% of the fishing revenue, while the central Somalia will get 30%.

Both sides are in deadlock over the sharing quota, after the central government has demanded 50%.

Foreign companies are seeking to form a legitimate government to sea fishing, and to pay the tax, which will be shared between the central government and the authorities of the Federal member states.

Cash income from Tuna Fishing will be deposited in the Central Bank of Somalia.

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