MIFCO media officer has said that by the end of this week, a portion of the unpaid payments to fishermen will be cleared.
Maldives Industrial Fisheries Company Ltd (MIFCO) announced today that the company will deposit MVR 46 million (USD 2,985,357.68), a portion of the outstanding payments owed to fishermen by the end of this week.
Fishermen have raised concerns over the delayed payments for their catch weighed at MIFCO over the past one and a half months. The unpaid dues during this period have now accumulated to MVR 80 million (USD 5.2 million).
Speaking to Mihaaru News, MIFCO media officer Ibrahim Saeed said that a portion of the outstanding amount owed to fishermen will be deposited within this week.
"By the end of this week, half of the unpaid payments will be cleared. MVR 46 million (USD 2,985,357.68) will be paid for the time being," he said.
He said that settlement of the remaining payments will begin next week and assured that the company is working to expedite the payments.
President Dr Mohamed Muizzu had committed to expedite payments within 48 hours of fish processing.
However, Minister of Fisheries and Ocean Resources Ahmed Shiyam stated yesterday that fulfilling the promises made to fishermen would be challenging without first improving the financial situation of both the State and MIFCO.
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.
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