Maldives Disburses USD 76 Million to Fishermen Under 48-Hour Payment Scheme

The Maldivian government has paid over USD 76 million to local fishermen as part of a strategic policy to ensure fish purchases are settled within 48 hours. The initiative aims to stabilize the livelihoods of fishing communities and strengthen the country's vital fisheries sector. Minister of Fisheries, Agriculture, and Ocean Resources, Ahmed Shiyam, announced the figures during a press conference at the President's Office. He revealed that a total of MVR 1.18 billion (approximately USD 76.3 million) had been disbursed by the end of June. According to the Minister, fishermen have consistently received payments within the 48-hour window since December 2024. The 48-hour payment policy was a cornerstone pledge of President Dr. Mohamed Muizzu's administration. Upon taking office in 2023, the current government inherited a significant financial burden, with approximately USD 16.2 million in outstanding dues owed to fishermen from previous administrations. Minister Shiyam emphasized that clearing this backlog was a top priority for the President. By eliminating these arrears and implementing the rapid payment system, the government intends to provide immediate financial liquidity to fishermen, reducing their reliance on high-interest loans and improving their daily operational capacity. Beyond immediate payments, the Ministry reiterated its commitment to the long-term sustainability and growth of the industry. The administration is currently implementing a broader suite of measures designed to expand financial support and create new opportunities for those working in the ocean resources sector. This shift toward transparency and efficiency in payment cycles marks a significant change in how the state manages its relationship with the fishing fleet, ensuring that the people driving the economy receive their earnings without bureaucratic delay.