They say that the vessels belonging to the company, which have been registered under the government of Sri Lanka, fish in the deep waters off Dikowita Port and return to give a legal status to the catch.
However, the company then imports a portion to the international market in an illegal manner, while releasing the rest to the local market, they say.
This is an illegal act according to international fishing laws and fishermen say that they are not even able to obtain a proper price for their catch due to this racket.
Speaking to 'Sri Lanka Mirror', fishermen further say that this act could even puts the GSP + concession received by the country, at risk.
Multi-day fishermen affected by the conduct of the 'Global Fisheries' company recently launched a broad agitation at the Dikowita Port.
However, the move is yet to catch the attention of authorities.
In the past, the European Union even imposed a GSP ban, abolishing the international quota for fish exports.
Channa Weeratunga, a retired colonel, is the executive director of Global Fisheries (Pvt.) Ltd.
However, 'Sri Lanka Mirror' learns the company is owned by a key official of the Export Development Board.