Government Extends Subsidised Fuel to Yellowfin Tuna Fishing Vessels

The Ministry of Fisheries has announced the expansion of subsidised fuel rates for commercial fishing vessels to include yellowfin tuna fishing boats, extending a scheme previously limited to skipjack tuna vessels.

In a statement issued, the ministry confirmed that diesel supplied to yellowfin tuna fishing vessels through the State Trading Organization will now be subsidised by the government at the same rate provided to skipjack fishing boats.

Subsidised diesel will be made available from facilities operated by Fuel Supplies Maldives, including the terminal in Hulhumalé and the FSM shed in Himmafushi, with effect from Monday.

The decision follows concerns raised by the Boduthakurufaanu Masveringe Union over rising fuel prices linked to ongoing tensions in the Middle East.

The ministry stated that the government is undertaking multiple measures to ease the impact of increasing fuel costs on local fishermen amid global market pressures.

On 16 March, the State Trading Organization increased fuel prices for businesses, but later confirmed exemptions for public transport providers, petrol sheds in the atolls reliant on STO supplies, and the government’s ‘Fahi Hakatha’ initiative supporting fishermen.