It's been difficult for many lobster fishermen to break even on the season. (CBC)

There's not enough money in Ottawa's plan for the lobster industry, say P.E.I. fishermen, who call it "totally insufficient."

Officials from the Department of Fisheries and Oceans were in Charlottetown Wednesday to outline a $65 million federal program to help eastern Canadian fishermen hurt by this year's lobster prices, which were the lowest in 20 years. They also outlined a strategy for increasing the sustainability of the fishery in the long term.

Ed Frenette, executive director of the P.E.I. Fishermen's Association, told CBC News only half of the Island's 1,300 lobster fishermen will likely qualify for the federal money. Even if they do, there's a cap of $5,000 each.

"Totally insufficient in terms of what these people have gone through in the last year," said Frenette, "particularly in the Northumberland Strait where landings have been down, and incomes have been down for as long as 10 years."

Mike McGeoghegan, who fishes out of Pinette on P.E.I.'s south shore, agrees.

"Hell, the way the program is right now I don't even know if I'll qualify," said McGeoghegan.

P.E.I. Fishermen's Association executive director Ed Frenette says P.E.I. fishermen will lobby for changes to the plan. (CBC)

Fishermen on the Northumberland Strait have been complaining for years of catches so low it has been difficult to break even.

Both Frenette and McGeoghegan called a federal plan to buy out lobster licences, in an effort to increase sustainability of the fishery by taking some boats off the water, a further disappointment.

Frenette said DFO told fishermen in order to get the money for the buyouts a sustainability plan for each area has to be agreed to by everyone who fishes it, whether they're from Nova Scotia, New Brunswick or P.E.I.

"We've never agreed in the 30-plus years that I've been fishing, so it's an impossibility," said McGeoghegan.

"It can't happen. So right now unless God intervenes it's a doomed policy."

Frenette said P.E.I. fishermen will be lobbying the federal government to increase the aid package.