President Dr. Mohamed Muizzu has revealed that the new administration disbursed over USD6.5 million to fishermen, addressing a portion of the outstanding USD16 million in payments owed by the previous administration. He made the statement while speaking at the the Masveringe Gunzaru forum 2023, commemorating this year's Fisherman's Day.
The Ministry of Fisheries and Ocean Resources stated that USD16 million remains unpaid to fishermen as of October 22 this year. The new administration is prioritising the resolution of the issue and is making efforts to disburse the outstanding sum to the fishermen.
Speaking at the forum, President Dr. Muizzu revealed that out of the USD16 million owed by the previous government, the current administration has already disbursed USD7 million. He assured that efforts are underway to release the remaining outstanding amount of USD9 million.
Meanwhile, Chief Executive Officer (CEO) at the Maldives Industrial Fisheries Company Limited (MIFCO) Ahmed Shamah Rasheed acknowledged the numerous concerns of the fishermen. He highlighted the commitment of MIFCO to profitability and addressing the challenges faced by fishermen, reaffirming the company's commitment to maintaining the current fish purchase price of USD 1.6 per kilogram.
The government has taken steps to enhance the management of MIFCO by changing its status from a subsidiary of STO to a 100% state-owned company. This restructuring aims to strengthen the oversight and governance of MIFCO.