Over MVR 900 million disbursed to fishermen under 48-hour payment pledge

More than MVR 900 million has been paid to fishermen over the past year under President Dr Mohamed Muizzu’s pledge to release payments within 48 hours of weighing their catch, Fisheries Minister Ahmed Shiyam said yesterday.

The government began issuing 48-hour payouts for fish weighed for MIFCO on December 10 last year, fulfilling a key presidential promise. Payments are released through the Bank of Maldives.

According to the minister, since President Muizzu assumed office on November 17, 2023, the government has released a total of MVR 1.7 billion to MIFCO to settle payments for weighed fish.

Minister Shiyam described the policy as “a great achievement” that has significantly benefited fishing families and boosted confidence in the industry.

MIFCO confirmed that the latest round of payments was made yesterday—MVR 2.79 million to fishermen from 63 boats that weighed their catch on Sunday.

The government has previously said earlier delays in 48-hour payouts were due to economic constraints and the backlog inherited from the previous administration.

On September 29, 2024, President Muizzu met with fishermen and boat owners at the President’s Office, where he reiterated his pledge to raise the purchase price of fish to MVR 20 per kilogram.

However, he stressed the increase must be implemented sustainably and cannot come at the cost of interrupting the 48-hour payout system.

“The most important promise I made was the MVR 20 [rate]. But it has to continue sustainably. It doesn’t work to declare MVR 20 from tomorrow just for the namesake,” the President said during a visit to Meemu Atoll in September.

Meanwhile, Fishermen’s Day was marked yesterday as protests continued outside Male's reef channel, where yellowfin tuna fishermen have been demanding that MIFCO resume purchases of their catch.