Managing Director and Chief Executive Officer of the Maldives Industrial Fisheries Company (MIFCO), Mohamed Anas, has stated that efforts are ongoing to fulfil President Dr Mohamed Muizzu's pledge to increase the fish purchase price to MVR 20 per kilogram.

The remarks come after MIFCO raised the fish purchase price to MVR 18.50 per kilogram to provide additional financial support to fishing families at a time when fishing activity remains low across the country.

Speaking to MMTV, Anas said the increase forms part of ongoing Government efforts to ensure fishermen receive a fair and sustainable price for their catch.

He noted that MIFCO is also expanding its cold storage capacity to enable the company to purchase larger volumes of fish, which would strengthen its ability to support fishermen and improve price stability within the sector.

Anas said the ultimate goal is to further improve returns for fishermen and raise the fish purchase price to MVR 20 per kilogram, in line with President Dr Muizzu's commitment to the fishing community.

The Government has introduced a range of measures aimed at strengthening the fisheries sector, including the implementation of a system that ensures fishermen receive payment for their catch within 48 hours.