Stung by poor returns for past two years, mechanized boat owners in Visakhapatnam are now faced with resource crunch to undertake annual repairs. As the 700-odd mechanized boats and 200 motorized boats have been anchored with the annual fishing holiday coming into effect on the entire East Coast for 61 days from Wednesday midnight, the boat owners are getting ready to mop up resources to take up annual maintenance works. The holiday period, observed regularly to allow breeding of fish to increase their numbers, is generally used by the boat owners for repair works like bottom work, bush change, carpentry and painting, propeller, gear box testing and engine repair/overhauling. Hefty interest rates As we are deprived of institutional finance, we have to borrow private finance at hefty interest rate, Dolphin Boat Operators’ Welfare Association president Ch. Satyanarayana Murthy said. Sources told The Hindu that they were now left with no option but to take loan from near and dear and money-lenders by paying more than bank interest. Some money-lenders charge them 24 to 36 per cent interest. No big catch On an average, a mechanized boat owner will need Rs.1 lakh to Rs.2 lakh towards repairs. As the boats failed to get big catch, most of the owners did not undertake voyage since September/October. It was a sort of early implementation of ban period for us, said AP Mechanized Boat Operators’ Association president P.Ch. Appa Rao. He said post-Hudhud, dwindling catch has remained a matter of serious concern. For a full voyage comprising 15 days, a mechanized boat incurs around Rs.2.5 lakh investment with lion’s share consumed towards meeting with diesel cost. Other expenses are incurred towards wages for eight-member crew and ration.
2016, The Hindu