Gov’t Allocates MVR 215.8 Million in Subsidies for Fisheries in 2023

The government disbursed subsidies totalling MVR 215,833,333.32 for fisheries in 2023, according to official records sent to MV+ through RTI.

The breakdown of subsidies by month shows there were no subsidies issued in January and February. 

However, in March, April, May, July, and August, MVR 20,833,33.33 was disbursed each month. 

September saw a subsidy of MVR 10,416,666.67, while October had the highest allocation at MVR 31,250,000.00. Notably, no subsidies were provided in November. 

In December, the largest amount of MVR 70,000,000.00 was distributed.is as follows:

This brings the average subsidy per month to approximately MVR 17,986,111.1, with a daily average of MVR 591,324.20 and an hourly average of MVR 12.18.

The current administration distributed an additional MVR 70 million to fishermen last week.

Following the disbursement of over MVR 400 million to fishermen, with MIFCO overseeing the weighing of their catch, an outstanding payment of MVR 300 million remains unresolved. 

In response to fishermen’s protests demanding the settlement of these outstanding payments, the government has pledged to settle one-third of the amount, MVR 100 million. The remaining balance is set to be dispersed before the 5th of the following month, as per governmental assurance.

The Minister reiterated ongoing efforts to ensure the complete settlement of outstanding payments to fishermen by the stipulated deadline of the 5th of the following month.