President Dr. Mohamed Muizzu has stated that the government's target is to always maintain the price at which fish is purchased from fishermen at MVR 20.
Highlighting the government's efforts to secure a fair price for fish in the second episode of "The Pulse" podcast series, the President said that the most important step taken to secure a fair price was floating the price, or implementing a policy to give the best market price available on any given day, and that the results of this have been very positive.
The government fish company, MIFCO, began implementing this policy at MVR 16, and having now brought it up to MVR 20, it shows that the price can be brought to that level based on the best market price, demand, and the amount of fish caught. Therefore, the President said he hopes that in the future, things can be planned in a way that the price can be maintained at the desired rate of not less than MVR 20.
"To do this, it is very important to establish ways to store fish and add value to fish in the Maldives as I mentioned. We are implementing that policy," President Dr. Mohamed Muizzu said.
The President said this was achieved as a result of strengthening MIFCO's management. Therefore, the government will always push to implement the policy of MIFCO purchasing fish, the President said. He also noted that although the price of fish can be increased at a time when it is currently low, this is something that will fluctuate.
"We want to always work to strengthen the entire industry so that the price can be maintained at the rate of MVR 20. However, the government will implement the affairs of the fishing industry in a way that it does not fall below MVR 18 at the lowest," President Dr. Muizzu said.
The President said the target is to always maintain it at MVR 20. And the government's policy is to take it even higher than MVR 20 once it reaches a point where the price can be increased, the President said.
