President Dr. Mohamed Muizzu has announced that all outstanding payments owed to fishermen have been transferred to the Maldives Industrial Fisheries Company (MIFCO).
In a statement on social media, the President emphasized ongoing efforts to establish a system that ensures sustainable payments to fishermen within 48 hours, as outlined in the "Dhiveheenge Raajje" manifesto. A key objective of this manifesto is to guarantee that fishermen receive their payments promptly after their catch is weighed.
In response to inquiries from Parliamentarians, Minister of Fisheries and Ocean Resources Ahmed Shiyam affirmed that the commitment to pay fishermen within 48 hours will be upheld. He noted that the current outstanding amount owed to fishermen is USD 1.06 million. He added that the Finance Ministry will deposit these funds to MIFCO today, with arrangements for the fishermen to receive the payments by tomorrow.
Minister Shiyam indicated that when the government assumed office, USD 16.3 million was owed to fishermen. However, the government has addressed this backlog and is now making regular payments. He reiterated the government's pledge to ensure that fishermen receive their payments within 48 hours, while also acknowledging the insufficient fish purchases due to low fishing capacity.