MIFCO to deposit two weeks' payments to vessel owners today

The Maldives Industrial Fisheries Company (MIFCO) has stated that the process of depositing money to vessel owners for tuna purchased from fishermen will proceed today.

MIFCO said that today's deposit will cover two weeks' worth of payments. This amounts to 7 million Rufiyaa for 445 tonnes weighed between August 9 and 23, according to MIFCO. Furthermore, MIFCO stated that a date for paying the remaining backlog will be announced at a later date.

"Next, MIFCO will release payments for the 2-week period between August 24 and September 9. Details of that period will be known after Monday of next week. Once that period concludes, those funds will also be deposited to vessel owners as soon as possible," MIFCO said.

According to statistics published by MIFCO, the outstanding amount for fish weighed from August 24 until the end of yesterday currently stands at 6.1 million Rufiyaa. MIFCO noted that yesterday alone, 121.8 metric tonnes of fish were weighed from 43 vessels.

Even in this situation of cash flow difficulties for the government and MIFCO, the company expressed gratitude for the assistance provided by the government in the collaborative efforts undertaken by the company's board and management, alongside the government and the Fisheries Ministry.