Last Wednesday witnessed the highest disbursement of funds to fishermen in recent history, according to the Maldives Industrial Fisheries Company (MIFCO).

Statistics released by the state-owned MIFCO reveal that the largest quantity of fish was delivered to the company on April 23. A total of 56 fishing vessels landed 403.62 tonnes of fish, for which MVR 5.4 million was disbursed to the fishermen on the same day.

The previous record was set on March 12, last year, when MVR 5.1 million was paid to fishermen for the catch landed by 30 boats.

Moreover, MIFCO reported that 254 fishing vessels supplied fish to the company over the past week. A total of MVR 14.6 million was disbursed, representing a 14 per cent increase compared to the preceding week, during which MVR 12.8 million was released to fishermen.

In line with the commitments made by President Dr Mohamed Muizzu, fishermen have been receiving payments within 48 hours since 10th December last year. To date, over MVR 470 million has been disbursed under this initiative.

Speaking on the Rayyithunaa Eku podcast, the President stated that the introduction of day-to-day payments has produced encouraging results.

He spoke of the Government’s commitment to supporting fishermen by providing essential facilities. Efforts are underway to ensure that fishermen can access oil and ice at the State Trading Organisation Corporation (STOC) rate by the end of this year.

One of the major initiatives currently being implemented is the registration of fishermen to facilitate access to financial assistance from Government bodies, banks, and other financial institutions. According to the President, 95 per cent of fishing vessels operating in the Maldives have already been registered. He expressed hope that the registration process would be even more comprehensive by this year’s Fishermen’s Day.