President Dr. Mohamed Muizzu has stated that over MVR 488 million has been disbursed to fishermen since the Maldives Industrial Fisheries Company (MIFCO) began paying for weighed fish within 48 hours.
He made this statement during a presentation given at a press conference currently underway at the President's Office.
The President stated that when this government took office, there was a backlog of MVR 250 million in unpaid dues to fishermen. Despite some delays, the funds have been paid to fishermen, and through an agreement made with the Bank of Maldives, MIFCO, and the Ministry of Finance, uninterrupted payments have been issued since December 10.
"During the recent 10 days, the last 10 days of Ramadan, and even during Eid, without any interruption, we have been consistently paying the money within 48 hours, God willing," the President said.
The President stated that since regular payments began, MVR 488 million has been disbursed to fishermen so far. Furthermore, the President noted that since this government took office, a total of MVR 1.59 billion has been disbursed, including payments to fishermen and fuel subsidies.
The President said that because fishermen are being paid uninterruptedly, they are assured of receiving their money, which has brought revitalization to the fishing industry. In this regard, investments in the fishing industry have now begun, and private parties, fishermen, and captains have started building vessels.
Noting that young people who had previously left the boats have started going fishing again since regular payments began, the President said that the youth have started going back to fishing because there is now certainty of receiving money. Stating that bringing youth back to fishing is a goal, the President gave assurance that funds will continue to be disbursed regularly to fishermen in the future.
