Gov’t Clears Fishermen’s Arrears, Expedites Payments

The government revealed that a total of MVR 981 million had been disbursed as payments to local fishermen since the current government assumed office just over a year ago.

When the administration took office in November last year, arrears owed to fishermen amounted to MVR 230 million. Despite initial challenges, these outstanding payments have been progressively settled.

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Marking this year’s Fishermen’s Day, celebrated on 10 December, President Dr Mohamed Muizzu announced that his government had introduced measures to ensure payments to fishermen would be made within 48 hours of fish purchases. Maldives Industrial Fisheries Company (MIFCO) has confirmed that payments are deposited within the stipulated timeframe.

According to MIFCO, between 17 November 2023 and 28 December 2024, the company purchased 55,925 metric tonnes of fish from local fishermen, with payments amounting to approximately MVR 981.126 million during this period.

The company also credited the Ministry of Fisheries and Ocean Resources and the Bank of Maldives (BML) for their support in facilitating the timely disbursement of payments to fishermen.