Maldives Industrial Fisheries Company (MIFCO), on Monday, introduced a 15% discount for local fishermen at its ice plants.
The Chief Operating Officer of MIFCO, Ramzee Abu Bakr announced that the discount, introduced on the occasion of local Fishermen’s Day, would be available from all 16 of its ice plants in Maldives.
Local fishermen can also buy products at discounted rates from MIFCO sites where tuna loads supplied to the company are weighed. In addition to this, MIFCO is handing out a complimentary case of canned fish to local fishing vessels which supply tuna to the company.
Customers can also receive discounts up to 5 percent at MIFCO outlets in Male’ and Hulhumale’ as well.
Although MIFCO has been operating for 30 years, the company was transferred to government management under the State Trading Organization (STO) in 2016 following severe financial issues.
While MIFCO has attributed its mounting debt to the low price of frozen fish in the global market, the government has spent MVR 621.4 million as financial aid to MIFCO since 2013. The latest of these was a sum of MVR 25 million allocated to MIFCO in November.
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