Today marks one month since the state-owned fisheries company, MIFCO, began disbursing payments to fishermen within 48 hours for the fish purchased from them.
As promised by the current administration, President Dr. Mohamed Muizzu announced that payments would be disbursed within 48 hours of fishermen weighing their catch at MIFCO. He made this announcement while speaking at a ceremony held to meet the residents of K. Gaafaru during his visit to the island on the 9th of last December. On that day, he stated that the government had decided to clear the existing "backlog" up to that date and begin disbursing payments within 48 hours starting from December 10th for those holding accounts with the Bank of Maldives (BML).
While fishermen had been criticizing and expressing concern towards the government and MIFCO over difficulties in making payments and the failure to disburse funds regularly, the President's announcement became very happy news for the fishermen, coinciding with that year's Fishermen's Day. With this decision by the President, the 38 million Rufiyaa in MIFCO's backlog up to December 7th was paid off and cleared on December 9th. Furthermore, under an overdraft agreement made with BML, the disbursement of payments to fishermen within 48 hours began on December 10th. The payments disbursed on that day were for the fish purchased by MIFCO on the 8th of that month. In accordance with the "48-hour plan" initiated that day, payments are being disbursed to fishermen without interruption, even on public holidays and bank holidays.
While President Dr. Mohamed Muizzu has fulfilled his most important promise made to the fishermen, he has stated that payments will continue to be disbursed to fishermen without interruption in the future according to this plan, and that the government is working to fulfill other promises made to fishermen as well. The President has also stated that the government will work to develop and advance the fisheries industry by listening to the ideas and concerns of fishermen, and in collaboration with them as they desire.
