MIFCO lowers price of fuel sold to fishermen

The state-owned fisheries company, MIFCO, has lowered the price of fuel sold to fishermen at its centers, effective today.

MIFCO announced that this change, brought under an agreement signed with Fuel Supplies Maldives (FSM), will result in an average reduction of 51 laari per liter for the fuel sold to all fishermen, starting today. For fishermen who supply more than three tons of fish to MIFCO, the price reduction will be an average of 71 laari per liter.

MIFCO stated that all parties who supply fish to the company will now be sold fuel for MVR 13.90 per liter. If a party supplies more than three tons of fish, they will be able to purchase fuel for MVR 13.72 per liter. The price of fuel sold to the general public at MIFCO centers has also been reduced, effective today, to MVR 14.43 per liter.

MIFCO explained that these changes were implemented in line with government policies to reduce the cost of services provided to fishermen and enhance the quality of those services. The price reduction for fishermen was announced by President Dr. Mohamed Muizzu during the official Fishermen's Day ceremony held last night in R. Dhuvaafaru.

MIFCO has also started purchasing fish weighing over one kilogram (1 kg) at a rate of MVR 16 per kilo, also effective today. Previously, fishermen received MVR 16 only for fish weighing 1.5 kg and above supplied to MIFCO. The new rate now applies to all fish weighing 1 kg and above.