Maldives Industrial Fisheries Company (MIFCO) encountered their lowest point in fishing during the last Islamic holy month of Ramadan, stated the company’s managing director Adli Ismail.
Speaking at a press conference held at MIFCO Monday afternoon, Adli declared that with lulls in fishing in the wake of modern changes to the industry, the company is facing major losses.
“Fishing is low nowadays even during the best fishing days. MIFCO is currently selling fish at rates lower than what we buy at,” he stated.
Adli elaborated that despite the disadvantages brought to both the company and the state by the low rates for sales, MIFCO is forced to maintain them in order not to negatively impact fishermen’s income.
According to Adli, MIFCO normally requires 200 tonnes of fish to offset expenses and earn profit. However, the company had received only 40 – 50 tonnes of fish by the end of last Ramadan. Adli went on to declare that despite having sufficient number of fishing boats, improvements must be made to fishermen’s efforts.
Noting that fishing had been maintained at good level during the Ramadans of the last decade, Adli declared that the regularity of fishermen’s work have gone down recently and the low in fishing last Ramadan is the worst yet in MIFCO’s history.