MVR 900 Million Disbursed to Fishermen Under 48-Hour Payment Policy

Over MVR 900 million has been disbursed to fishermen in the Maldives under the government’s 48-hour payment policy, which was introduced last Fishermen’s Day to address long-standing concerns over delayed payments. According to statistics from the Maldives Industrial Fisheries Company (MIFCO), a total of MVR 900,322,300 has been released to fishermen over the past year. The policy was a presidential pledge aimed at ensuring payments are made within at least 48 hours. In the past, fishermen faced significant challenges due to fluctuating fish prices, which rose to MVR 25 per kilo during the last presidential election before being reduced to MVR 20. Payment delays often led to protests across the country. The government later decided to buy fish from MIFCO at international market prices to stabilize the situation. Despite the progress on payments, fishermen are currently protesting near Malé, accusing the government of failing to fulfill other key promises. The Bodu Kanneli Masveringe Union (BKMU) highlighted three unmet pledges: MIFCO’s commitment to buying large fish, setting a minimum price of MVR 80 to 100 per kilo for yellowfin tuna, and supplying fuel at the base rate while improving access to ice. Meanwhile, Fisheries Minister Ahmed Shiyam announced that the construction of a fish processing facility in Hulhumalé will begin next month, as part of the government’s efforts to expand the fisheries sector.