President Dr. Mohamed Muizzu has announced that the Maldives Industrial Fisheries Company (MIFCO) will undergo a transformation into a 100 percent Maldivian fishers company, with the direct involvement of fishers on its board.
Speaking at a ceremony held at Dharubaaruge to commemorate the 42nd Fishermen's Day of the Maldives, President Muizzu said that the government has already initiated the process of transforming MIFCO into a 100 percent Maldivian fishers company.
One of the main objectives of this change is to incorporate the voices of fishers in the decision-making process of MIFCO's board, he said.
"For that, fishers will directly participate in MIFCO board, and they will be represented on the board," he said.
According to the President, fishers will be empowered to have a direct say in the development of MIFCO, the formulation of company policies, and the implementation of company programs.
"The reason is that I believe those with direct experience in a particular profession will be best aware of the changes that need to be made in that profession," he said.
"That's why fishers are highly valuable. They are the true experts of the country's oceans. They possess extraordinary skills," he said.
President Muizzu said that special efforts will be implemented to honor fishers. He emphasized that the government should take steps to make the Maldives a state that recognizes and appreciates local fishers.
Based on this vision, he said that the Cabinet has approved the establishment of a national registry of local fishers.
President Muizzu said that the purpose of this initiative is to address various financial and economic challenges faced by fishers. He added that through this initiative, local fishers would be integrated into the banking system, allowing the state to provide assistance during the low fishing season.
During the ceremony, awards were presented to fishers, recognizing those who have made significant contributions to the fisheries sector.
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