According to the researches, Sharks are found to be vulnerable to extinction.  There are 500 species of Sharks in the ocean and 60 species of them inhabit Sri Lankan sea in which 12 species are commonly fished by Sri Lankan fishers.

MFARD has decided to issue permits for fishing certain species of Shark.  Issuance of permits to export fish parts of Basking Shark, Whale Shark, Oceanic White Tip Shark, Hammer Head Shark, Porbeagle and Manta Ray Shark has been made compulsory.

Export of Shark fin and Shark oil maintain a high demand in the international market. Shark fish products of Sri Lanka in 1990 amounted for 8665 Mt and currently it has marked a significant drop up to 2500 Mt. Measures taken in limiting Shark fishing has resulted in such a decrease.  Today Sri Lanka is ranked as the 10th country among the nations of exporting Shark fish products.

However, Sharks that are accidently caught by fishers are thrown to the sea since the fishing methods applied by Sri Lankan fishers are inadequate to bring such Sharks ashore. Hence FAO has agreed to extend technical assistance to protect Sharks through proper management of this fish resource aiming at livelihood development of fishers.

 Minister mentioned that he has been informed by fishers that a rapid growth of Sharks could be seen in the Sri Lankan sea line. Thus the Ministry is planning to initiate a programme to protect Sharks and to ensure safe harvesting of Sharks, said Minister.