Gov’t Releases MVR 422 Million in Fishermen Payments, MVR 270 Million Outstanding

Maldives Industrial Fisheries Company (MIFCO) has disclosed that MVR 422 million in outstanding payments owed to fishermen has been released, while an additional MVR 270 million remains unpaid, as stated by Minister of Fisheries and Ocean Resources Ahmed Shiyam.

During a parliamentary session on Monday morning, Shiyam faced questioning regarding the recent decision to adjust the fish purchase rate. The Minister responded to queries, including those raised by South Machangolhi MP Ahmed Haitham concerning the outstanding payments to fishermen.

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Shiyam clarified that the current administration, led by the PPM-PNC coalition, has disbursed MVR 422 million to fishermen, encompassing credits for fuel and ice. However, he highlighted that there remains an outstanding balance of MVR 270 million.

In addressing the background of the situation, Shiyam pointed out that upon assuming office, President Dr. Mohamed Muizzu inherited approximately MVR 250 million in outstanding dues.

Shiyam criticised the previous administration, which had increased the fish purchase rate from MVR 17 to MVR 25 in September 2023, branding it as a move lacking thorough research and merely aimed at political gains. He underscored that despite the rate adjustment, the owed payments to fishermen remained unsettled.

Attributing the delay in clearing the dues to the substantial backlog inherited from the former administration, Shiyam acknowledged the challenge but affirmed the ministry’s commitment to swiftly address the issue.

He reassured stakeholders that efforts are underway to expedite the resolution of outstanding payments owed to fishermen, emphasising the ministry’s dedication to overcoming the existing hurdles promptly.