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By year end, govt would have paid MVR 1 billion to fishers, claims Pres

12 December 2022, MVT 11:31
President Ibrahim Mohamed Solih speaking at the official ceremony held to mark the 42nd national Fishermen's Day, in G.Dh. Faresmaathoda. PHOTO: President's Office
12 December 2022, MVT 11:31

President Ibrahim Mohamed Solih revealed on Sunday night that the state-run Maldives Industrial Fisheries Company (MIFCO) had purchased fish worth nearly MVR 1 billion from local fishers.

Speaking at the official ceremony held in Gaafu Dhaalu atoll Faresmaathoda to mark national Fishermen’s Day, the President said that, till last Thursday, MIFCO had purchased MVR 966 from fishers for the fish weighed at the company.

“Before the end of the year, MIFCO would have paid MVR 1 billion to Maldivian fishers. This is the first time a government has paid this much to fishers in a year,” Solih said.

MIFCO had weighed 59,000 tonnes of fish as of the end of last week, according to the President, making it the highest recorded purchase of fish since 2006.

While the statistics appear to favour the fishers, the President noted that there were serious concerns and challenges to overcome in the fisheries industry.

Solih noted that the fiscal rate that MIFCO purchased fish was concerning to fishers; the current is at MVR 17 per kilo of fish. He also said that the value of Maldives fish should be higher in international markets and that MIFCO faces loses every year because it sells the fish at a lower price than the company paid for it. He also acknowledged that, while MIFCO was able to keep these prices, the private sector would face many challenges.

One of the primary markets that the Maldives export fish to is Europe and the UK; however, there is currently a hefty 24 percent duty on Maldivian fish, which effects the local fisheries industry. The President affirmed that the government is in discussion with the relevant stakeholders from the EU to relax the current duty rate.

Increasing Capacity

President Solih also highlighted some of the ongoing efforts to expand MIFCO’s capacity. He particularly noted the projects planned in Kooddoo in Gaafu Dhaalu atoll:

- Building a new cold storage with a capacity of 4000 tonnes; the project is currently at the bidding process.

- Building a new refrigerated container yard with a storage capacity of 1250 tonnes by June 2023

- 120 tonne brine freezing capacity in Kooddoo by 2023

The government is also expanding fisheries in Thinadhoo of the same atoll. A cold storage with a capacity of 1000 tonnes, and 120 tonne brine freezing capacity will be established by mid-2023 in the island in Maldives’ south, the President revealed.

In an effort to resolve the issues that arise in weighing the daily catch, Solih said that the government has acquired three vessels to purchase fish, while discussions are underway to purchase a fourth vessel. These boats will have a storage capacity of 730 tonnes and a 300 tonne brine freezing capacity, Solih said.

“We’re hopeful that these vessels will be operationalized towards the beginning of next year.”

Fishermen’s Day Celebrations

The President departed to Faresmaathoda, where the 42nd national Fishermen’s Day celebrations were officially held, on Sunday morning. Cabinet members, including the Minister of Fisheries, Marine Resources, and Agriculture Dr Hussain Rasheed Hassan, as well as the Minister of Finance Ibrahim Ameer and Minister of Economic Development Fayyaz Ismail, along with senior officials from government joined the President.

The fisheries ministry organized a Fisheries Expo on the island in an effort to promote the sector. Maldives Transport and Contracting Company (MTCC), Horizon Fisheries, Ensis Group, Seagull Group, Pressure Tech Maldives, Big Fish Maldives, Ooredoo Maldives, Noo Raajje and the island council of Faresmaathoda were represented in the expo.

A fish filleting competition was also held in the day featuring 12 contenders, eight of whom were women. Solih also took part in the competition.

At the official ceremony held to mark Fishermen’s Day, the President presented long-service awards to the individuals that served the fisheries sector, as well as students who attained outstanding results in marine sciences in the Cambridge O’ Level examinations. The President also presented awards to the "youngest fishermen", the three vessels that sold the highest capacity, and the three companies that bought the highest capacity.

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