MVR 7 million paid out to 48 fishing vessels

MIFCO said on Friday that a total of MVR 7.65 million was paid to 48 fishing vessels.

In a post on X, the state owned company wrote, " Big pay day for our fishermen! A whopping MVR 7.65 million is on its way to 48 vessels (Fish landings: 12th Feb 2025)."

According to the company, payments would have been credited to the designated recipients between 10:30 am and 12:30 pm on Friday with non-BML transfers clearing before 04:30 pm on the next working day.

Last Monday, MIFCO paid MVR 4.7 million to 29 fishing boats.

In January last year, MIFCO weighed 8,324 tonnes of fish, marking a record for the most fish weighed in a month. It was the most fish bought by the company since 1997 until.

Making payments to fishing vessels within 48 hours of buying the fish is a presidential pledge of Dr. Mohamed Muizzu. Since December last year, fishermen have been getting paid within 48 hours.