June 2000 press release, DFO
Minister Herb Dhaliwal announced an allocation of 1500 metric tonnes in
NAFO Area 3L for Prince Edward Island. In August of 2000, the PEI
Atlantic Shrimp Corp. Inc (PEIASC) was established as a non profit
Company to oversee the management of the harvest and marketing of the
Northern Shrimp allocation to Prince Edward Island.
under the principles set out by DFO
for this allocation, the PEIASC negotiates contracts with Atlantic
Canadian charter companies for the harvest of PEIs annual shrimp
quota. The net revenue derived to the PEIASC from this allocation
is then distributed to fund various projects that benefit the PEI fishery
as a whole, particularly in the areas of research, product and market
development and professionalization.