MVR 385 million disbursed since 48-hour payment policy began

President Dr. Mohamed Muizzu has stated that approximately MVR 385 million has been disbursed to fishermen since the implementation of the policy to pay for fish sold to the Maldives Industrial Fisheries Company (MIFCO) within 48 hours of weighing.

He made these remarks while speaking on the newly launched podcast by the President's Office, titled "With the People."

Noting that paying fishermen within 48 hours of weighing their catch was one of his presidential pledges, he stated that since the implementation of this pledge began last December, payments have been disbursed regularly without interruption. The President added that approximately MVR 385 million has been disbursed to fishermen since the pledge was put into action.

After clearing the outstanding debt owed to fishermen by MIFCO, the 48-hour payment policy was initiated on December 10 last year. The government continues to disburse payments to fishermen even on public holidays. Since regular payments began, the number of vessels going out fishing has increased, as has the number of youth participating in the fishing industry.

During his remarks on the "With the People" podcast, the President also highlighted the government's ongoing efforts to establish a system to sell fuel at STO rates in every atoll of the Maldives. In this regard, he gave assurance that arrangements will be made within this year to ensure fuel is available at STO rates in at least one island in every atoll. The President stated that he considers it very important to establish arrangements for fishermen to obtain fuel at affordable prices. Therefore, he said that with the establishment of STO fuel skids in the atolls, fishermen will be able to get diesel at STO's base rate.