In a recent announcement on X, President Dr. Mohamed Muizzu confirmed that all outstanding payments owed to fishermen have now been handed over to the Maldives Industrial Fisheries Company (MIFCO) for disbursement. The government has taken steps to resolve previous delays and establish a new system allowing fishermen to receive payments within 48 hours—a key campaign pledge of the President.
Fisheries Minister Ahmed Shiyam, addressing Parliament, stated that the government has prioritized clearing the backlog of unpaid dues, noting that MVR 16 million had been allocated for payment. He assured that the Ministry of Finance transferred the funds to MIFCO early today, allowing disbursements to commence tomorrow.
Minister Shiyam explained that when the current administration assumed office, over MVR 250 million in payments to fishermen remained unsettled by the previous government. Since then, the administration has actively cleared these arrears and continues to make payments promptly. The Fisheries Ministry aims to uphold its promise of a 48-hour payment schedule moving forward.
Shiyam also highlighted that current fishing volumes remain lower than anticipated, affecting national fish purchasing levels.
