Minister of Fisheries and Ocean Resources has disbursed USD18 million in outstanding payments to fishermen, as per the government's pledge.
Speaking to PSM News, Minister Ahmed Shiyam said the government had over USD13 million in outstanding payments to fishermen when the new administration took office. He said President Dr. Mohamed Muizzu has prioritised paying the outstanding amount as soon as possible and that USD18 million has been disbursed so far.
Additionally, Minister Shiyam said the government's cash flow has declined significantly since the new administration took office but the ministry will continue to pay fishermen in accordance with the President's instructions. He also highlighted the previous government's decision to raise the price of fish during the second round of the presidential election campaign, increasing the price of fish sold at USD1.1 to USD1.6. He noted that the decision was made while the government and the Maldives Industrial Fisheries Company (MIFCO) were facing difficulties in receiving revenue.
As such, Minister Shiyam said that the decision resulted in more burden to the state, with the government having to pay USD16 million in addition to the initially allocated USD16 million in subsidies to fishermen. He predicted that the state would have to pay USD65 million in subsidies if the price of fish is maintained at USD1.6 next year.
Additionally, Minister Shiyam said the new administration will work for the interest of fishermen and implement measures to pay them immediately after processing their catch. He added that the government is working on fulfilling this pledge during the five-year term of President Muizzu.