The Maldives Industrial Fisheries Company (MIFCO) has announced that MVR 31 million has been paid to fishermen for the 1,791 tons of fish processed during the month of May. The volume of fish weighed last month saw a decline compared to April, primarily due to unfavorable weather conditions and the Eid-ul-Adha holidays. Skipjack tuna remained the most significant portion of the catch during this period.
As part of the government’s ongoing efforts to enhance the fisheries sector, a mechanism has been established to ensure payments are settled within 48 hours. Furthermore, fuel is being provided to fishermen at subsidized rates; by mid-May, approximately 2.5 million liters of fuel had been distributed. The government’s primary objective is to manage the industry effectively amidst global market shifts, ensuring the fisheries sector remains resilient and that fishermen receive consistent and timely financial returns.
