The government has decided to provide a subsidy on fuel sold by the State Trading Organization (STO) to yellowfin tuna fishing vessels.
The Fisheries Ministry stated today that with this decision, yellowfin tuna fishing vessels refueling from the Hulhumale FSM terminal and the K. Himmafushi FSM shed will receive fuel at a subsidized price starting today. Under the government's special "Fahi Hakatha" program for fishermen, diesel will now be sold to yellowfin tuna fishermen from these two sheds at a rate of 17.54 MVR per litre.
The government has been making numerous efforts to minimize the impact on Maldivian fishermen caused by rising global oil prices due to the ongoing war in the Middle East. The Ministry stated that the government's decision to subsidize fuel sold by STO comes as part of these efforts, initiated by President Dr. Mohamed Muizzu following consultations with the yellowfin tuna fishing community regarding their concerns.
The state fisheries company, MIFCO, is currently selling diesel under a specific policy to vessels that sell fish to the company. Today, MIFCO sells diesel at a rate of 1,200 litres for vessels over 85 feet and 800 litres for vessels under 85 feet. Additionally, vessels wishing to purchase diesel above these amounts are sold fuel at the STO subsidized rate of 17.54 MVR.
As MIFCO centers are currently purchasing yellowfin tuna, yellowfin tuna vessels selling fish to MIFCO will also be able to obtain diesel at this price.
