The Maldives Industrial Fisheries Company (MIFCO) has announced a significant payout to fishermen, depositing MVR 7.65 million to 48 fishing boats for their recent catch.

The payments, which were processed between 10:30 a.m. and 12:30 p.m. on Friday, reflect the fish weighed by fishermen last Wednesday.

MIFCO shared the update via its official X account, referring to the day as a “Big Pay Day” for fishermen. The company stated that any remaining payments will be deposited before 4:30 p.m. on the next banking day.

The commitment to pay fishermen within 48 hours is a key presidential pledge by President Dr Mohamed Muizzu. The Government has been consistently honouring this, ensuring regular payments every two days to support the fishing community.

According to MIFCO statistics, 8,324 tonnes of fish were weighed in January 2025, marking the highest monthly catch recorded in recent fishery history. The company continues to work towards streamlining payment processes and supporting fishermen.