In response to rising global fuel prices, the Ministry of Fisheries has implemented strategic changes to the fuel subsidy framework for fishing vessels. To enhance the efficiency and transparency of the subsidy distribution, which is currently processed manually, the Ministry has mandated that all future subsidies be managed through the “Fahi-Hakathha” portal. Consequently, all unregistered vessels are required to complete their registration via the portal by September 15, 2026.
To further support the fishing community, fuel is presently being supplied at subsidized rates across 15 designated regions, with pricing determined by vessel size. Additionally, MIFCO has established a credit facility for fishermen in collaboration with FSM. Under this agreement, fishermen can procure fuel on credit, with the outstanding costs being deducted directly from the proceeds of their catch.
