MIFCO assured that the company is working with the government to make the payments as soon as possible, with a portion of the amount expected to be deposited within this week.
The Maldives Industrial Fisheries Company Ltd (MIFCO) announced today that it is working towards paying outstanding dues totaling MVR 80 million (USD 5.2 million) to fishermen for fish weighed at the company within this week.
MIFCO media officer Ibrahim Saeed told Mihaaru News that the delay in payments is due to the government's subsidies for fishermen not yet being received.
However, he assured that the company is working with the government to make the payments as soon as possible, with a portion of the amount expected to be deposited within this week.
President Dr Mohamed Muizzu had committed to expedite payments within 48 hours of fish processing, but the government has faced significant challenges in fulfilling this promise due to the state's financial situation.
Earlier this year, the government paid several months' worth of outstanding amounts after fishermen began protesting.
Minister of Fisheries and Ocean Resources Ahmed Shiyam stated that over MVR 250 million (USD 16.2 million) had not been paid to fishermen when President Muizzu assumed office. He noted that over MVR 850 million (USD 55.2 million) has been paid to fishermen before the end of the first six months of the new government.
Minister Shiyam added that outstanding payments rose significantly due to an increase in the price of fish from MVR 17 to MVR 25 on September 16 last year.
Fishermen in some regions are preparing to protest again due to concerns about unpaid dues rising to MVR 80 million.
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