Maldives Industrial Fisheries Company (MIFCO) has revealed it has settled over USD 4.5 million in outstanding payments to fishermen.
Speaking to local media, Managing Director Ismail Fauzy said MIFCO had challenges in making payments to fishermen due to restriction of movement following the lockdown imposed in the Greater Male' Region. Fauzy said MIFCO is making payments in cash and due to the lockdown the company was unable to transport cash to the fish processing centres causing a delay in making the payments. He stated the payments account for the transactions made during the last three weeks stating an additional USD 657,894 is currently pending after settling over USD 4.5 million to the fishermen.
Additionally, Fauzy said the payments were made after transporting the cash to the processing centres in flights arranged by the government. The company expects to settle the remaining payments once the banks open next week.
The managing director said like all other companies, MIFCO is also facing challenges during the lockdown. However, Fauzy said the management is working to continue fish processing along with the operation of the fish canning factory without delay. He urged all fishermen to continue fishing despite the outbreak of COVID-19.
The Maldives experience a good fishing season until the end of May. The catches decline in the months of June and July due to bad weather.
Following community spread of COVID-19 in the Maldives, Health Protection Agency (HPA) has banned transport between islands after announcing a lockdown in the Greater Male' Region for two-weeks. Following recent cases identified from the north, some islands have also been placed under monitoring by HPA.
However, the Ministry of Fisheries, Marine Resources and Agriculture has announced its decision to issue permits for vessels to continue fishing.