Fishermen sell MVR 44 million worth of fish to MIFCO so far in April

Fishermen have sold MVR 44 million worth of fish to the Maldives Industrial Fisheries Company (MIFCO) so far in April this year.

According to MIFCO's statistics, from April 1 to April 18, fishermen sold a total of MVR 44,037,039 (forty-four million thirty-seven thousand thirty-nine Rufiyaa) worth of fish to MIFCO. During this period, 569 vessels sold fish to various MIFCO facilities and boats.

The company has been regularly disbursing payments for the fish sold by fishermen to MIFCO from April 1 to April 18, with a total of MVR 36,495,244 (thirty-six million four hundred ninety-five thousand two hundred forty-four Rufiyaa) disbursed to date. Payments to the vessels that sold fish were made daily after deducting the money for ice and fuel taken on credit from MIFCO's facilities and boats by individual vessels. MIFCO's statistics show that vessels took MVR 10.2 million worth of items on credit during this period.

Disbursing payments to fishermen within 48 hours for the fish weighed at MIFCO is a presidential pledge of President Dr. Mohamed Muizzu. In accordance with this pledge, MIFCO began disbursing payments on December 10, 2024, and has disbursed over MVR 470 million so far. Although fishermen had lost trust in the company due to previous non-payment issues, trust is beginning to be restored now that payments are being disbursed regularly.