MIFCO Reverses Oil Fish Can Price Hike Following Public Concerns

The Maldives Industrial Fisheries Company has withdrawn its decision to increase the price of oil fish cans, maintaining previous rates after public concerns were raised.

The company initially announced the price adjustment yesterday, attributing it to rising production costs and global oil price fluctuations linked to the ongoing Middle East conflict.

Following reconsideration, MIFCO confirmed that oil fish cans will continue to be sold at MVR 17.50 per can and MVR 760 per case at its outlets. The company stated that the reversal reflects sensitivity to public concerns and the broader cost of living.

MIFCO emphasised its ongoing commitment to providing quality products at affordable prices. The company also recently announced a two-hour reduction in official working hours as part of broader cost-cutting measures.