President: Fish purchase price hike depends on 48-hour payment guarantee

The purchase price of fish will be increased only if it can ensured that fishermen receive payment without interruption within 48 hours of purchasing fish, President Dr. Mohamed Muizzu stated on Monday.

The President met with fishermen at the President’s Office on Monday morning. During the meeting, fishermen shared their ideas to improve the fishing industry.

The President's Office reported that the fishermen's most pressing need was to ascertain the date when the fish purchase price would be increased to MVR 20 per kilogram.

In response, the President affirmed that the fish purchase price could only be increased after confirmation of payment within 48 hours of purchase. Nonetheless, he assured that the price of fish would be increased, eventually.

During the meeting, fishermen also conveyed their concerns to the President. The President acknowledged the decline in fisheries and the difficulties faced by fishermen in applying for loans through the Bank of Maldives (BML).

Fishermen further shared with the President the challenges encountered in fishing across different parts of the country.

The President pledged that the government would work to address these concerns. He stated he would instruct BML to simplify the loan application process, including reducing documentation requirements.

Additionally, the President said that ongoing land reclamation projects in Vaavu Atoll would continue in consultation with fishermen to ensure their views were incorporated.

He also shared with the fishermen details of efforts by the State Trading Organization (STO) to standardize fuel prices across all atolls of Maldives.

The President indicated that he is working to complete this initiative by March next year and shared details of work being done by MIFCO to commence fuel sales.

The President further assured fishermen that he would take immediate steps to resolve their concerns and would look into their affairs very closely.

On the 22nd of this month, the President announced his intention to change the price of fish to MVR 20 per kilogram, fulfilling a promise made during the presidential election. Since this announcement, private companies in the fishing industry have expressed concern.