Minister of Fisheries and Ocean Resources Ahmed Shiyam has assured that the outstanding payments owed to fishermen, whether by the current or previous government, will be promptly settled.
In a post on X, Minister Shiyam explained that challenges arose due to the previous government's financial imprudence in printing money, complicating efforts to secure internal and external funding to fulfill the owed amounts.
Additionally, Minister Shiyam acknowledged the difficulties faced by fishermen and their families, including unmet needs, rent, utility bills, children's tuition fees, and loans, resulting from delays in payments. Highlighting the financial state upon President Dr. Muizzu's assumption of office, he disclosed an outstanding amount of approximately USD16 million owed to fishermen. He also said that the Maldives Industrial Fisheries Company Limited (MIFCO) has disbursed over USD18 million to fishermen with government assistance since then, leaving around USD12 million pending due to favorable fishing seasons in the Maldives.
Furthermore, Minister Shiyam affirmed that efforts are underway to secure a facility with a sovereign guarantee, as per President Dr. Muizzu's request, despite the challenges posed by the previous government's financial practices. He acknowledged the complexities in procuring internal and external funding but expressed optimism that the existing backlog would soon be resolved, ensuring equitable payments to fishermen.
Moreover, Minister Shiyam pledged to address other challenges within the fisheries sector and reiterated the government's commitment to fulfilling its manifesto on fisheries. He also praised President Dr. Muizzu for resolving issues and shared insights into the ongoing efforts to settle outstanding payments.
President Dr. Muizzu has emphasised the government's determination to quickly deliver all outstanding payments to fishermen, assuring that measures will be taken to prevent prolonged delays in disbursements.