Report on cost-benefit analysis of the monitoring, control and surveillance system and tools developed by Sri Lanka
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This publication provides guidance on the implementation of effective and efficient monitoring, control and surveillance (MCS) in the marine fisheries sector in Sri Lanka, crucial to ensuring long-term conservation of fishery resources and access to markets.
The marine fisheries sector plays an important role in Sri Lanka’s economy. Sri Lanka is committed to combating Illegal, Unreported and Unregulated fishing (IUU). The current Monitoring, Control and Surveillance (MCS) system comprises of a number of tools: inspections, observers, port samplers, a satellite based vessel monitoring system, institutional arrangements such as the High Seas fisheries monitoring unit and the investigation unit for supporting the MCS system. The Sri Lankan Government has realized the need to strengthen the existing MCS system for the sustainable management and conservation of fishery resources. The cost benefit analysis on the current MCS system is therefore, undertaken with the technical support of the Food and Agriculture Organization to strengthen the capacity of the above aspects, and identify the best possible ways to minimize the cost of implementation and provide recommendations for policy adjustment. Estimated benefits and costs were assessed by discounting to derive the net present value of benefit gained from the large pelagic fisheries within the Exclusive Economic Zone and High Seas in Sri Lanka. Results of the analysis reveal that the sum of the net present value of benefits is positive. It is a good sign of positive outcomes. Resource rent is around 19 percent of the estimated total landed catch value. This contribution of resource rent is substantial for the industry. The study concludes by drawing attention to how the implementation of a sound MCS system and tools can create a win-win situation with multiple benefits in terms of economic, social and ecological benefits for the country.