Thank you, Mr. Speaker. This is a return to a question asked by Mr. Lewis on March 19, 1993, and it concerns the Freshwater Fish Marketing Corporation, Mr. Speaker.
Mr. Speaker, the problem on the lake is twofold, declining process for the catch and debt load. The Freshwater Fish Marketing Corporation (FFMC) extends credit to fishermen in its jurisdictions, and those are advances on future catches. This is to assist the fishermen in getting out onto the lake and catching more fish. The corporation has allowed debts to accumulate. The accumulation of a large debt load and constantly declining prices for whitefish have made it difficult for even the best fishermen to make a living.
At one point, the FFMC was taking 40 per cent off the gross price received by some of the operators, for fish delivered, and that was just to service the debt. This policy crippled the operations of some fishermen and threatened the long-term viability of others. The corporation finally assigned a full-time credit manager to the Great Slave Lake fishery to restructure the credit policy for the lake and advise fishermen on financial operations.
All large operators with excessive debt were offered credit programs tailored to their operations. Some chose not to participate. For those who did, this new policy combined with a very good price for winter whitefish and high catch rates this winter have resulted in a considerable decrease in the debt load accumulated in the fishery. Thank you, Mr. Speaker.