MIFCO disburses over MVR 342 million to fishermen so far this year

The Maldives Industrial Fisheries Company Limited (MIFCO) has disbursed more than MVR 342 million to fishermen so far this year, according to figures released by the company. A total of 18,366 tons of fish have been purchased during this period, with tuna accounting for the bulk of the catch at 17,540 tons, for which MVR 326.3 million was paid. In addition, MIFCO purchased 826 tons of red snapper, disbursing MVR 16.5 million to fishermen. The company stated that although there were previous delays in payments, fishermen are now receiving payments within 48 hours. MIFCO has also made favorable adjustments to fish purchase prices and is arranging for fishermen across the country to access fuel at good prices. The government has highlighted the development of the fishing industry as a priority, with the objective of making it the largest income-generating sector in the country.