Minister of Fisheries and Ocean Resources Ahmed Shiyam has revealed that the government has disbursed USD57 million to fishermen. The announcement was made during a press conference highlighting the fisheries ministry's achievements over the past six months.
Speaking at the press conference, Minister Shiyam stated that as of April 22, the government had distributed USD 57million to fishermen, with an additional USD4 million still pending. He emphasised the government's commitment to prioritising the payment of outstanding bills. He also said that the Maldives Industrial Fisheries Company Limited (MIFCO) faces challenges in reducing its fuel expenditure unless there is a reduction in fuel costs.
To address energy needs, the government plans to convert 35% of the energy required by MIFCO factories to renewable sources. The fisheries ministry is seeking assistance from the World Bank to support the initiative.
The government found that USD16 million was owed to fishermen upon assuming office. Since then, it has cleared the payments up to April of the previous year. The government has also pledged to ensure that payments to fishermen are made within 48 hours.