The government is encouraging the installation of Refrigerated Seawater (RSW) systems on fishing vessels to save fuel costs incurred while travelling to different areas in search of ice, Fisheries Minister Ahmed Shiyam has said.
Sharing an update on the government's efforts to ensure adequate ice availability for fishermen at the "Ahaa Forum" held last night, Fisheries Minister Ahmed Shiyam stated that ensuring the freshness of fish when brought to facilities is crucial, and this can only be guaranteed by establishing a system that adequately provides ice to fishermen.
The Minister said that to resolve the difficulties faced by fishermen in obtaining ice, in addition to establishing land-based ice plants, opportunities have been opened through SDFC to issue loans for installing RSW systems on vessels. He noted that through this opportunity, they are strongly encouraging the establishment of RSW systems on vessels, and one of the main purposes is to ensure the quality of fish brought to facilities and to save the fuel costs incurred in travelling to find ice.
"We are encouraging the installation of RSW on vessels because, as you know, ice plants are established in specific areas. Having to travel to another place when ice is unavailable there is a huge expense. Fishermen have to spend a lot on fuel. If this is done by installing RSW on the vessel, a significant amount will be saved. That means the amount going into the fisherman's pocket will increase. That is our main purpose," Minister Shiyam said.
The Minister stated that the project to establish RSW systems on vessels is being carried out under a very special initiative of the President. While a large expenditure is being made to install RSW, the target is to install RSW systems on 110 vessels under this project, the Minister said.
"The best thing a government can do for fishermen and vessel owners is this opportunity opened to establish the RSW system on vessels. There are about 590 vessels currently licensed and fishing in the Maldivian fleet. We hope that RSW systems will be established on all vessels in the future. God willing, we will establish the system on 110 vessels through the opportunity currently open for this," Minister Shiyam said.
The "Murabaha RSW Financing" facility, carried out under the project to establish Refrigerated Seawater (RSW) systems on fishing vessels, is a finance facility arranged jointly by the Fisheries Ministry and SME Development Finance Corporation (SDFC) to install RSW on vessels under the Islamic Development Bank (IsDB)'s "Support People's Livelihood in Fisheries Sector in Maldives through Sustainable Energy Project". So far, 44 parties have applied for this facility, and loans have been arranged for 25 parties. President Dr. Mohamed Muizzu also handed over documents to 13 parties whose financing was arranged. Applications for the facility can still be submitted via the SDFC portal.
Under this facility, loans up to MVR 2,000,000 are issued without collateral to establish RSW systems on fishing vessels, purchase generator sets, and purchase solar power panel systems. While the loan profit is calculated at 6% per annum, the government pays 35 percent of the price of the items taken under this facility. A grace period of 6 months is provided, and a maximum period of 10 years is given to repay the loan.
