MIFCO Disburses 23.5 Million Rufiyaa to Fishermen Last Week

Statistics from the state-owned fish company, MIFCO, reveal that 23.5 million rufiyaa was disbursed last week alone for fish purchased from fishermen.

In line with President Dr. Mohamed Muizzu's presidential pledge, under MIFCO's plan to issue payments within 48 hours of purchasing fish, the funds disbursed last week were for fish bought between the 15th and 20th of this month. During this period, 151 vessels sold 27.2 million rufiyaa worth of fish to MIFCO. After deducting the cost of ice and fuel taken on credit by the fishermen, 23.5 million rufiyaa was disbursed to them.

The highest number of vessels weighed their catch to MIFCO last week on Thursday. On that day, 40 vessels weighed fish at various MIFCO facilities and boats.

Generally, as the number of vessels going out fishing decreases during the last 10 days of Ramadan, the volume of fish received by MIFCO has now dropped.