Fauzy appointed MD of MIFCO

Ismail Fauzy: He was appointed Managing Director of MIFCO on December 25, 2018. (File Photo)

Ismail Fauzy from G. A. Kolamaafushi has been appointed Managing Director of Maldives Industrial Fisheries Company (MIFCO).

Fauzy, who has experience serving in different posts within MIFCO, was appointed its MD this Tuesday.

MIFCO ran at a loss during the past administration and relied on loans and assistance by the government to pay fishermen and maintain its business.

The current administration has pledges to convert MIFCO into a profit making company within one-and-a-half years.