IT WILL COST around $2.6 million for the setting up of a co-operative by the fisherfolk community.

This was disclosed recently by Michael Bynoe, manager of the Entrepreneurial Department Division of the Barbados Investment Development Corporation (BIDC).

He was addressing fisherfolk, members of the Fisheries Advisory Committee and Minister of Agriculture and Rural Development Senator Haynesley Benn at a meeting held at the Fisheries Department, The City.

Bynoe said the BIDC funded a feasibility study which was conducted by a private consultant. He added the projected figures were based on the wealth of the co-op and they need to show the commitment.

Bynoe, a former senior business development officer, suggested a delegation travel to Scotland, Britain and Nova Scotia, Canada, to see how similar co-operatives operate and adapt their standards to suit Barbados.

He said this should take top priority before a co-operative was set up.

Benn then urged the fisherfolk to see themselves as one.

"Out there is the most difficult of jobs. . . . Recognise we are one and can speak with one voice. Agencies will look at you more seriously . . . you can lobby government for certain things. . . I'm prepared to put human and political resources at my disposal on its way . . . use the politicians for advice only."

Deputy chairman of the Fisheries Advisory Committee, Angela Watson, said the process was started about two years ago and there were some draft by- laws.

She asked that those seeking membership should pay $50 and also buy 20 shares at $50 per share. She said members would be paid according to the number of shares they have.

"Fishermen don't get rewards for the amount of work they put in . . . the co-op will be responsible for marketing all fish caught and landed in Barbados," she said.

One boat owner who asked that his name not be used said if the proposed new co-op was not up and running soon, the fishing industry would make a backward trend.

Currently, the Barbados Fishing Cooperators Society Limited exists, but it was suggested this be dissolved and the new co-op be set up. This co op was formed in the 1950s, went dormant in the mid-1970s, and is still functioning today with a small membership. (KB)