Premier Campbell Newman promised A$9 million to fund a voluntary buyback of east coast inshore commercial netting licences, removing up to half in areas of high conservation or recreational fishing value, reports ABCRural.
Another A$1 million was earmarked to fund related measures, including monitoring fisheries.
Queensland Seafood Industry Association president Geoff Tilton says they've met with the new Fisheries Minister John McVeigh to discuss the LNP policy.
"He said that they would honour their commitment, it's part of their 100-day plan," Mr Tilton said.
"It's dependent on financing, but he assured us that this process will go ahead and the mechanisms for it are still to be worked out, but yes it's a commitment they intend to fulfil."
The amount of money the LNP will pay for individual licences is yet to be determined.
"If it goes the way I think it's going to be in terms of an offer, it's going to be net fishers with a net endorsement that they would like to tender and they will offer that licence or that endorsement at a figure that they would like to get for it," Mr Tilton said.
"And then it'll be up to the process to see whether they've overpriced their endorsement or whether it's an acceptable figure and whether it will be bought out under this A$10 million scheme."
Government will Deliver on Licences Pledge
QUEENSLAND, AUSTRALIA - The Queensland Government has promised it will deliver on a A$10 million election commitment to the state's fishing industry.
by Lucy Towers
