Outstanding MVR 62 mil owed to fishermen

Minister Fisheries and Ocean Resources Ahmed Shiyam on Sunday revealed that the last payment to local fishermen were cleared on April 22nd, adding the state still owes MVR 62 million in outstanding payments.

The outstanding payments in question are the fish purchases made by the Maldives Industrial Fisheries Company (MIFCO) from local fishers.

At the ministry's press conference on Sunday, the minister confirmed these, adding that MVR 22 million was paid to fishermen from the outstanding amount on April 22, 2024.

Out of the total debt the current administration inherited in outstanding payments to fishers, the government has already cleared MVR 881 million, the minister added.

Minister Shiyam further highlighted potential financial stresses MIFCO may expect by end of May owing to outstanding dues, but assured the remaining total will be paid to fishers at the earliest convenience.

Local fishers had protested on multiple occasions owing to significant delays in receiving payments for the fish they sold to MIFCO. The concerns have resurfaced once again following the current delay in settling the remaining outstanding amount.

President Dr. Mohamed Muizzu earlier promised to enhance the payment mechanisms, ensuring fishers receive payment to the fish they sell within 48 hours.