Tuesday 21st May 2024
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Ministry of Fisheries and Ocean Resources

Fishermen Paid 422 Million MVR: Minister Shiyam

The Minister of Fisheries and Marine Resources, Ahmed Shiyam, said that 422 million MVR had been released to fishermen while answering questions from members of Parliament yesterday. This total sum has been paid to fishermen in the period from this government coming to power and February 2024, as promised by President Dr. Mohamed Muizzu.
The 422 million MVR includes fish cooling ice and oil issued on credit to fishermen, he said, but the amount of money that has not been paid to the fishermen so far is 270 million MVR.
Replying to questions raised by MPs in Parliament, Shiyam said the previous government had increased the purchase price of fish from MIFCO from 17 MVR to 25 MVR after the first round of the presidential election. The state then had to pay about 500 million MVR in subsidies due to the price change, he said.
With the sudden increase in the purchase price of fish for political purposes, the losses already suffered by MIFCO have increased, he said. He said that at the time the government’s purchase price was increased, the price of fish was 22.40 MVR per kg in the markets where fish was exported from Maldives, or where Maldivian fish products were bought.
At that time, the price of fish in the markets where fish was exported or bought from Maldives was 22 MVR to 40 MVR per kilogram. This is a low sale price per kilogram, thus the losses for MIFCO as a result of the increase in purchase price for fish were huge. Meanwhile, the government is experiencing a time of low cash flow.
Fisheries Minister Ahmed Shiyam
The President has said that he will take a loan from MIFCO and hand over the money to the fishermen. In the future, things will be arranged so that fishermen will not have to spend many days without paying large amounts of money, he said.