The Maldives Industrial Fisheries Company Limited(MIFCO) has disbursed a total of USD 2.61 million to local fishermen following a successful January fishing season.
A fleet of 236 registered fishing boats contributed to the catch, harvesting a combined total of 2,454.34 metric tonnes of tuna. The payout, one of the largest in recent months, reflects both increased operational efficiency and the government’s commitment to supporting the livelihoods of local fishermen.
The catch was primarily composed of skipjack tuna, yellowfin tuna over 10 kg, and premium-grade yellowfin tuna exceeding 15 kg, with skipjack accounting for the bulk of both volume and revenue.
According to detailed statistics released by MIFCO, skipjack tuna dominated the catch with 199 boats bringing in 2,301.73 tonnes, generating USD 2.4 million in payments. Meanwhile, 168 boats targeted yellowfin tuna over 10 kg, landing 80.45 tonnes and earning USD 103,761, while 148 boats caught 72.16 tonnes of larger yellowfin tuna over 15 kg, receiving USD 116,732 in compensation.
The government has eliminated previous delays in payment processing, now guaranteeing disbursement within 48 hours of offloading—ensuring timely financial support for fishing communities.
This reform, coupled with the creation of a national register of fishermen, has enabled more transparent and accountable operations. The register has also paved the way for income-based financial schemes, delivering much needed financial empowerment to local fishermen.
The government has continued to reaffirm its commitment to expanding the sector, citing the fishing industry as a cornerstone of the Maldivian economy alongside tourism. With plans to modernise processing facilities, enhance cold chain logistics, and increase access to international markets, the government aims to position fisheries as one of the country’s top revenue-generating sectors.