Ensis audit proposed amidst acquisition to MIFCO

As it has been decided that state fisheries company MIFCO will take over the Ensis Canning Factory, MP for South Hulhumale' Dr. Ahmed Shamheed has called for an audit of the company's transactions.

Ensis Canning Factory, which has had a hefty investment of USD 25 million (MVR 385 million) by a private Maldivian investor, is set to be handed over to MIFCO, with no other details having been publicized.

MIFCO released a statement this week saying that discussions were currently being held with Ensis.

Information on Ensis Cannery:

- The cannery was opened on 9th December 2019, the first of its kind in the Male' area.

- Invested amount: USD 25 million (MVR 385 million)

- A cold storage capable of holding 1,200 tonnes of fish was established.

- 25 tonnes of fish are packed per day.

- Around 200 employees were working at the cannery by the time it closed in September 2023. 80 percent of the employees were women.

- Cannery plot size: 50,000 sqft.

- The main reason the cannery had to be closed was after MIFCO increased the price of fish bought from fishermen to MVR 25 per kilo.

Today's Parliament meeting saw MDP member Shamheed voice out stating whether this move should even occur due to the decrease in state funds. He also requested to take into consideration the past and consider as to whether MIFCO itself is needed by the state.

Shamheed went on to say that if there are funds to buy Ensis, then the state should pay the citizens what they owe as well. He also stated that if they were to follow a bidding process, they might get a factory on the cheap.

As told by the company at the time, the purpose of the factory, of which they have the capacity to pack 25 tonnes of fish per day, was to prepare fish cans and fish products by combining different flavors from all types of fish without wasting any type of fish. Fish were sealed in cans along with water, oil, chili sauce or sunflower oil.

Then-Ensis Factories Director Abdul Waheed told Mihaaru News in an interview at the time that they had to stop buying fish from fishermen due to the losses they were facing for buying it at MVR 25. The company had around 200 workers employed at the time of closure at September 2023.

He went on to say that the cannery and the factory had been constructed after taking out a foreign loan, and that the business could not move forward anymore due to the huge losses it incurred. He said that such a huge investment was made with the assurance from the government that great opportunities would arise for private businesses.