Last Thursday was the day with the highest payout to fishermen in recent history, according to statistics from the government’s fish company, Maldives Industrial Fisheries Company (MIFCO). In line with President Dr. Mohamed Muizzu’s pledge, payments for fish caught by fishermen are being released within 48 hours. This pledge was implemented starting from the past Fishermen’s Day. According to information from MIFCO, the number of fishing vessels going out to sea has increased with this new system.
According to MIFCO’s figures, on February 6th, MIFCO released 6.5 million rufiyaa for fish weighed by fishermen. This is the highest amount paid out in a single day since the implementation of the 48-hour payment system. Statistics show that in January of this year, MIFCO released 117 million rufiyaa for fish weighed by fishermen. This is a 122% increase compared to last December. In December, MIFCO had released 52 million rufiyaa to fishermen.
This government continues to work extensively to advance and diversify the Maldivian fishing industry. The Ministry of Fisheries and Marine Resources has stated that solutions to the issues facing the fishing industry will be found within the first three years of the government’s term. To develop and advance the Maldivian fishing industry, the government is also making many changes to MIFCO. This includes restructuring MIFCO’s management and transforming MIFCO into a profitable and sustainable business.
