The government continues its mission to strengthen public services and support local industries as Minister of Youth Empowerment, Sports and Fitness, Abdulla Rafiu officially opened a new Maldives Industrial Fisheries Company (MIFCO) store in Addu City, marking a significant milestone in the company's ongoing expansion efforts.
During the inauguration ceremony, Minister Rafiu emphasised that this development represents a historic step forward in the government's commitment to making essential products accessible to citizens across all regions of the Maldives at affordable prices.
In his address, Minister Rafiu highlighted that the establishment of MIFCO stores beyond the capital region demonstrates the administration's dedication to decentralising services and ensuring that every citizen can benefit from quality products manufactured by state-owned enterprises. The Minister emphasised that MIFCO has long been recognised as a trusted brand among Maldivian households, having served the nation reliably for many years. He assured the public that the company continues to add new and reliable products to the market while maintaining competitive pricing structures that ease the financial burden on families.
"This is a great relief for the people, to get the products produced by MIFCO at affordable prices. The availability of these products will undoubtedly ease the burden on the pockets of our citizens and contribute to improving their quality of life,” he said.
The Minister further explained that the government's fisheries company, funded through the state budget, must operate in a manner that serves the public interest without imposing unnecessary financial burdens on taxpayers.
He reflected on the challenging circumstances that existed when the current administration assumed responsibility for MIFCO, describing a situation where the government fisheries company was experiencing significant financial difficulties and had accumulated substantial losses. At that time, the company faced severe operational challenges and was struggling to fulfil its obligations to fishermen and other stakeholders in the fisheries sector. Recognising the critical importance of the fisheries industry to the national economy and the livelihoods of countless citizens, the government prioritised strengthening MIFCO's management structure and operational efficiency.