MVR 300 million in unpaid dues, backlog to be cleared next month: Minister

Minister of Fisheries and Ocean Resources Ahmed Shiyam has stated that Maldives Industrial Fisheries Company (MIFCO) has MVR 298 million in unsettled payments to fishermen after weighing and purchasing their catch, and the amount will be cleared by March 5.

"When I checked yesterday, we had a backlog of MVR 298 million. We are aiming to settle the payment by March 5," Minister Shyam told 'Mihaaru News' today.

A number of fishermen have gathered in Gaafu Alif Atoll, Kooddoo, today to protest the non-settlement of dues of three months.

"The funds will be released to the fishermen, and the backlog will be cleared. After that, payments will be made every week for the weighed catch," he said.

Minister Shiyam is expected to visit Kooddoo this evening to meet with fishermen participating in the ongoing protest on the island upon their request. Minister Shiyam stated that he would meet with the fishermen and explain the government's solutions to the cash crisis.

President Dr. Mohamed Muizzu had earlier said that even if the state's fishing company MIFCO has to take a loan, they would do so to ensure the fishermen are paid. Kooddu is also the last destination on the President's ongoing tour of four southern atolls.

During the last presidential election campaign, former President Ibrahim Mohamed Solih's administration increased the price of fish from MVR 17 to MVR 25. The price of fish has now been reduced to MVR 20 due to the increased financial burden on the state.

Fishermen protest in Kooddoo over unreceived payments

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