Fisheries Minister Ahmed Shiyam has stated that MVR 881 million has been disbursed to fishermen since the new administration took office in November 2023.
The new administration inherited MVR 250 million in pending payments to fishermen when it took office in November 2023. President Dr. Mohamed Muizzu, addressing the residents of Raa Dhuvaafaru island on March 3, assured that the government intended to clear this backlog promptly and ensure that fishermen are paid for their catch within 48 hours.
Speaking to reporters on Sunday, Minister Shiyam detailed that MVR 881 million was deposited to fishermen from November 17, 2023 to April 22, 2024. However, an outstanding MVR 61 million in pending payments still remains.
“The government has released MVR 881 million to the fishermen. By the end of the month, MIFCO faces difficulties. We hope to pay this [outstanding] sum to the fishermen as soon as possible,” he said.
Shiyam emphasized the need for the Maldives Industrial Fisheries Company (MIFCO) to reduce its expenditure to ensure timely payments to fishermen. The government is actively working on reducing costs at MIFCO and other related entities to address this issue effectively, he assured.
The new government has reduced the purchase price of fish for MIFCO from MVR 25 to MVR 20 per kilogram.