The Maldives Industrial Fisheries Company (MIFCO) has stated that it is planning to issue a "payment" early next week for the fish purchased on credit from fishermen.
When this newspaper called today to find out the date the fishermen's money would be paid, MIFCO said that the current unpaid "backlog" stands at MVR 32 million, and that they are planning to release a payment next week. Since MIFCO referred to it as a payment, it is uncertain whether they plan to clear the entire backlog or pay a portion of it.
By stating that they are planning to release a payment, it implies that the company is once again waiting until a one-month "backlog" accumulates, similar to their current practice of releasing funds on a monthly basis. Over the past two months, the company also released payments to fishermen only after a full month had passed.
Details of how MIFCO released payments over the past 2 months:
27 September - 27 October: MVR 15.1 million was released on October 31 (1,528 metric tonnes of fish)
Fishermen are expressing their dissatisfaction over the delays in MIFCO releasing payments for the fish purchased from them. Fishermen say that MIFCO is now releasing payments to them in the same manner as monthly salaries are paid to civil service employees. They state that this is completely unacceptable, and since fishermen are engaged in a business transaction with MIFCO, payments should be made without delay in accordance with business principles and standards.
Among the promises made to fishermen to secure votes to come to power, this government promised to pay in dollars within 48 hours of purchasing fish, and promised not to lower the price of fish below MVR 20. However, even as the government marks 1 year, payments have not been made within 48 hours. Furthermore, contrary to the promise, the price of fish has been lowered to MVR 16.
