President Dr. Mohamed Muizzu has stated that over MVR 1,016 million has been disbursed so far since the commencement of issuing payments to fishermen within 48 hours.
Detailing the disbursement of funds to fishermen in this year's Presidential Address, the President stated that since December 10, 2024, payments for fish sold by fishermen to the state fish company, MIFCO, have been paid uninterruptedly within 48 hours. Furthermore, the President stated that from December 10, 2024, to February 3, 2026, a total of 1,016,329,376 Rufiyaa has been disbursed.
Disbursing payments within 48 hours of fishermen weighing their catch to MIFCO is a presidential pledge of President Dr. Mohamed Muizzu. The happiest development fishermen have received from this government is the commencement of receiving payments within 48 hours. With the arrangement to receive payments regularly for weighed fish, and the assurance that these arrangements will run permanently, the hardship fishermen have been bearing for ages has come to an end.
The government's aim is to diversify fisheries and significantly increase the income derived from the sector. Specifically, the government is taking numerous steps to reduce the hardships faced by fishermen and to lower the expenses they incur for fuel and ice. In this regard, notable initiatives include arranging for fishermen to get fuel at STO base rates from all atolls of the Maldives, arranging loans to install RSW systems on vessels, and ongoing projects to establish ice plants in areas where ice is currently unavailable. Furthermore, with the resolve to make fishermen a group recognized by the state, a national fishermen's registry has been compiled, and arrangements have been made for fishermen to access loan facilities issued by BML to government employees.
