Great plan! Interestingly, one of the best fisheries in Australia along the Northern Territory coast is being transformed. The government has strict seasons in place for commercial fishing, and it is buying back commercial fishing licenses. Many places which were open to commercial fishing have been closed to all except recreational anglers who must keep to bag limits of face big fines.
The fisheries are abundant and the government has realised that there is more economic worth to be derived from recreational anglers; and the environment benefits also.
The NT Government realises the importance of commercial catches and is heavily sponsoring research and development into large scale offshore fish farming.
"if at first you don't succeed....Redefine success"!