CEO of the loss-making company, which was recently brought under the umbrella to State Trading Organization (STO), Adhly Ismail told VNews on Monday that the company faced difficulties in paying fishermen due to low catch. He added that as fishing has improved once again, the company has paid off debts owed to fishermen. Adhly said when MIFCO was transferred to STO, the fish exporting company had close to MVR 2 million in debts, owed to fishermen. If fishing is good, we get about three to four million Rufiyaa per day. Yesterday alone our centers weighed about 227 tons of fish, which is worth about 4.5 million. Noting that the company is working, through set procedures and policies, to pay off its debts, Adhly said transferring MIFCO to STO was a good move that would prove beneficial for both MIFCO and fishermen. He said although the company was previously buying fuel from STO, it no longer has to do that, and therefore fishermen will be able to buy fuel at a lower price starting from next month. When asked about rumors that fishermen are getting ready for a strike, Adhly said he were unaware of it. He said he did not know why fishermen would stage a strike, adding that as the head of MIFCO, he has always listened to the concerns of fishermen and have tried to address them.
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