The Maldives Industrial Fisheries Company Limited (MIFCO) disbursed over USD 5 million for fish purchases in April.
According to MIFCO, a total of 1,068 fishing vessels sold 4,414 tonnes of fish in April, with payouts reaching USD 5.11 million.
The figures reveal that skipjack tuna fishermen accounted for the largest share, with fishermen receiving USD 5.03 million from 781 vessels for 4,146 tonnes. Meanwhile, fishermen from 91 vessels who supplied yellowfin tuna over 10 kg received USD 7,500, while those from 196 vessels supplying yellowfin over 15kg received USD 65,000.
The government is prioritising expansion of the fisheries sector as a key income-generating industry.
Fishermen are now being paid within 48 hours for fish supplied to MIFCO. In addition, subsidised fuel is being distributed, with more than 1.1 million litres released so far across nine locations to support fishermen amid rising global fuel costs linked to the Middle East war.