Measures being strengthened to combat illegal fishing

The budget proposed for next year includes funding to acquire necessary equipment to strengthen security for identifying vessels engaged in illegal fishing within Maldivian waters.

According to the budget book for the estimated MVR 64 billion budget next year, MVR 556 million has been specifically allocated for the fisheries sector. A significant portion of this amount will be distributed to local fishermen through Maldives Industrial Fisheries Company (MIFCO), with MVR 280 million specifically designated for MIFCO.

Furthermore, the budget includes provisions to strengthen the Fisheries Monitoring Center to better detect vessels conducting illegal fishing in the Maldives' sea area. Funding is also earmarked for installing a Vessel Monitoring System (VMS) and an Electronic Observer System.

To reduce the sector's dependency on fuel, a special project will be launched to assist 200 fishing vessels next year. The Ministry of Finance stated that this assistance will include helping vessels acquire amenities like Refrigerated Sea Water (RSW) and Solar Photovoltaic systems to minimize fuel costs.

The Ministry of Finance emphasized that the most modern technology must be introduced to advance the fisheries sector. Therefore, the Ministry noted that the budget for next year prioritizes and allocates funds for implementing such measures.