In line with the Marine Resources Act of 2000, Cabinet approved the following total allowable catches (TAC) for the season 2003/2004:

Hake: 180 000 metric tonnes inclusive of by-catches

Orange Roughy: 2 650 metric tonnes inclusive of by-catches

Monk: 12 500 metric tonnes inclusive of by-catches.

The Minister noted that recent data indicate that present temperature, oxygen and salinity profiles are favourable and there are presently no signs of anomalous warm water intrusions. Environmental conditions have furthermore been relatively favourable for spawning, survival and growth of larvae. He noted that both juvenile and the fishable biomasses of hake stock is in a good state and survey results have shown that the fishable biomass of hake has increased by 7 % compared to survey results of the previous year.

Both the Marine Resources Advisory Council and scientists recommended a TAC of 176 000 metric tonnes for hake, excluding by-catches. The Minister set the TAC at 180 000 metric tonnes, including by-catches.

With reference to Orange Roughy, the Minister noted that survey results indicate that the abundance of orange roughy on the four fishing grounds for the species is better than in the previous year. The four orange roughy fishing grounds are Johnies, Rix, Hotspot and Frankies. The Minister informed Cabinet that orange roughy does not aggregate in the same numbers every year and this causes the observed fluctuations in the availability of the fish from year to year On the TACs for Orange Roughy the Minister concurred with the recommendations of the Marine Advisory Council and scientists and set that TAC at 2650 metric tonnes, inclusive of by-catches.

The latest survey indicates that the monk stock is in a healthy condition, but it should be managed conservatively to obtain a long-term sustainability yield. The Marine Advisory Council and scientists advised that the TAC for monk should be set at 11 000 metric tonnes without by-catches. The Minister decided to set the TAC at 12 500 metric tonnes to provide for by-catches.

It is estimated that revenue of N$ 118.96 million will be realized for the state through quota fees, by-catches, research levies and licensing fees.