MIFCO says no guarantee of payouts for fishermen this week

The Maldives Industrial Fisheries Company (MIFCO) has stated there is no guarantee that payments for fish weighed at its facilities will be disbursed this week.

Keyolha's efforts to get an answer regarding the non-payment for fish weighed at MIFCO facilities since August 24 finally yielded a response today. In its reply, MIFCO indicated that it is unlikely the funds will be released this week.

"It is not expected that the payments due by the end of this week can be made," MIFCO's response read.

MIFCO has been unable to settle the bills for the vessels due to cash flow constraints faced by the company. MIFCO previously stated that it understands the feelings of the fishermen, but given the company's current financial situation, it is facing difficulties in paying them. Furthermore, MIFCO mentioned that it wants to release the funds to the vessels by consulting with the government, the Ministry of Finance, and the Ministry of Fisheries.

Fishermen argue that if MIFCO buys fish, it must pay the corresponding price. They assert that since customs and MMA statistics show the purchased fish is processed and exported as raw fish, they are certain MIFCO generates revenue from the goods brought in through the fishermen's hard work.

"When MIFCO said they were in a dire state and asked to buy fish at 16 Rufiyaa, we agreed. Therefore, they are making money from what we bring in. They are paying for other expenses regularly. When it comes to paying us, there is no money. Isn't this a bit too much?" an angry fisherman said.

The captains of all the vessels weighing fish to MIFCO are currently very angry. Vessel owners are left helpless with nothing to do. There is currently no way to fund sending the vessels out for fishing. At the very least, there is no capacity to even load the necessary "provisions" for the crew onto the vessels.

Due to MIFCO's deteriorating situation, non-payment, and low purchasing prices, some vessels are now weighing their fish to private companies. Horizon in L. Maandhoo currently buys a kilo of fish for 18 Rufiyaa. Ensis is also buying fish at a better price than MIFCO and providing some free ice to fishermen.

Fishermen noted that among the private companies, except for Cypria, others are currently not paying immediately after buying fish.

"Cypria buys a kilo of fish for 15 Rufiyaa. But they pay immediately. Other private places also used to pay regularly before. Now, because of what MIFCO is doing, they have also started to become careless. Now they are also paying after one or two weeks," a fisherman said.

Fishermen stated that given the way things are going, they can no longer remain silent. With many crew members and families behind them, unable to pay rent, bills, or loan payments, and with no way to make ends meet, fishermen said they are now close to starvation. They added that there is no other option but to rise up to resolve these issues.