The Edition
facebook icon twitter icon instagram icon linkedin icon


MIFCO states that MVR 105 million has been disbursed to fishermen

MIFCO has stated that MVR 105 million has been distributed to the fishermen at present with the remaining dues decided to be settled before the 5th of next month.

Aishath Shuba Solih
27 February 2024, MVT 14:36
Fishermen at sea
Aishath Shuba Solih
27 February 2024, MVT 14:36

Maldives Industrial Fisheries Company (MIFCO) stated today that the fishermen’s payment of MVR 35 million previously agreed by the state to be settled by Monday has been disbursed.

Addressing the three-day protest of the fishermen carried out last week in Gaaf Alif Atoll Kooddoo due to delayed payments, the government had agreed to settle one third of the fishermen’s full payment, MVR 100 million, by Monday. As agreed between the Ministry of Fisheries and Ocean Resources and MIFCO, MVR 70 million from this amount was deposited to the fishermen on Thursday last week.

“We deposited the remaining MVR 35 million by yesterday. Therefore, we have now dispersed a total of MVR 105 million to the fishermen as agreed,” a senior representative of MIFCO stated.

The state is determined to disburse the remaining MVR 200 million to the fishermen before the 5th of next month.

The MIFCO official further remarked that the funds that are being distributed are reimbursement for fish purchased at a rate of MVR 25.

This administration had altered MIFCO’s purchase price of fish to MVR 20 two weeks ago.

The government had highlighted that fishermen were reimbursed close to MVR 600 million after President Dr Mohamed Muizzu assumed office.

Share this story

Related Stories