MIFCO decides to reduce fuel prices for fishermen

The Maldives Industrial Fisheries Company (MIFCO) has reduced the price of fuel sold to fishermen.

This decision by MIFCO was made to reduce prices for fishermen in accordance with the President's pledge to resolve the difficulties they face. To facilitate this, an agreement has been reached between MIFCO and Fuel Supply Maldives (FSM). Under this agreement, FSM has reduced the price of fuel supplied to MIFCO, the company said.

With this positive change in price, MIFCO will start selling fuel to fishermen at the new rate on Fishermen's Day, December 10, this year. With this change, fuel will be sold at MVR 13.90 to all parties weighing fish to MIFCO. Furthermore, fuel will be sold at MVR 13.72 to those who weigh more than 3 tonnes of fish. In addition, MIFCO has also reduced the price of fuel sold to the general public. Accordingly, fuel will be sold to the public at MVR 14.43.

Establishing a convenient arrangement to provide petrol and diesel to the general public and fishermen at STO rates in at least one island in every atoll is a presidential pledge of President Dr. Mohamed Muizzu. As such, the government has initiated a project to establish fuel storage in every atoll. The government states that this project will be completed by the end of next March.