$3.4m subsidy to ensure continuity of shipping services

July 20, 2022 5:50 am

The shipping services have been allocated $3.4 million for the subsidy scheme for this financial year.

Minister for Economy, Aiyaz Sayed-Khaiyum, says this will cushion the impact of rising fuel costs and ensure business continuity for vessel operators to continue their service on uneconomical routes.

The Minister adds that $2.5 million is allocated for the construction of the retaining wall along the Government Shipping Wharf side of the water course.

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“The project will be undertaken in two phases: “Phase 1 will be implemented in the 2022-2023 financial year in which 107 meters of retaining wall will be constructed to prevent soil erosion, which can cause severe damage to government shipping vessels and the premises.”

Sayed-Khaiyum adds that $100,000 will be allocated to cater for the upgrading and managing of facilities in Vatuyalewa Jetty in Buca Bay.