Gov’t Disburses Over MVR 900 Million to Fishermen Under 48-Hour Payment Policy

The government has confirmed that more than MVR 900 million has been disbursed to fishermen under its 48-hour payment policy, introduced last Fishermen’s Day to address long-standing concerns over delayed payments.

Statistics from the Maldives Industrial Fisheries Company (MIFCO) indicate that a total of MVR 900,322,300 has been released to fishermen over the past year. The policy was a presidential pledge aimed at ensuring payments are made within 48 hours.

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Previously, fishermen faced significant challenges due to fluctuations in fish purchase prices, which rose to MVR 25 per kilo during the last presidential election before being reduced to MVR 20. Payment delays often prompted protests across the country. The government later opted to purchase fish from MIFCO at international market rates.

Despite progress on timely payments, fishermen are currently protesting near Malé, accusing the government of failing to fulfil other key promises. The Bodu Kanneli Masveringe Union (BKMU) stated that three major pledges remain unmet: MIFCO buying large fish, setting a minimum price of MVR 80 to 100 per kilo for yellowfin tuna, and supplying fuel at base rates while improving access to ice.

The union added that these issues have been repeatedly raised through meetings, statements, and letters to the Ministry of Fisheries but remain unresolved.

In a related development, Fisheries Minister Ahmed Shiyam announced that construction of a fish processing facility in Hulhumalé will begin next month as part of efforts to expand the sector.