MIFCO CEO Ahmed Shamah Rasheed has announced the positive news that there will be no further reports of MIFCO's fish shipments being rejected in the future.
The CEO shared this positive news while speaking at the parliament's State Owned Enterprises (SOE) Committee yesterday.
The CEO stated that MIFCO is working to stop the losses incurred from fish shipments being rejected by foreign companies, and that from now on, the company will only sell fish to buyers who agree to their stipulated conditions.
"By the end of March, we will not sell fish in any other manner. The happy news for all citizens is that in the future, there will be no news of MIFCO's fish being rejected," the CEO said.
The CEO explained that because fish was being rejected after shipments had departed, MIFCO held discussions with Thai companies to propose a solution. Under the proposed terms, the purchasing company must bring a quality controller to the Maldives to grade the fish, approve the quality, and make the payment before the fish is loaded onto foreign vessels. The CEO added that fish will only be released after payment is made for the approved catch, finalizing the business deal at the Maldivian port.
The CEO noted that since the companies they consulted did not accept MIFCO's conditions, they are now searching for alternative markets to sell their fish.
The CEO made these remarks at a time when fishermen have expressed deep concern over MIFCO stating that a large amount of fish is being rejected when it comes to releasing payments after weighing. Some fishermen have even accused senior MIFCO executives of taking the money designated for the "rejected" fish as a cut.
