The Maldives Industrial Fisheries Company (MIFCO) has announced that it has disbursed more than MVR 13 million to fishermen during the first two weeks of January.

According to figures released by the company, a total of MVR 13,894,957.56 was paid between 1–14 January 2026. 

Disbursements began with approximately MVR 1.6 million on 1 January, followed by MVR 1.5 million on 3 January, MVR 2.1 million on 5 January, before continuing steadily with MVR 1.4 million on 6 January and MVR 1.3 million on 7 January. Subsequent payments included just under MVR 1 million on 8 January, MVR 1.2 million on 9 and 12 January, less than MVR 1 million on 13 January, and MVR 1.2 million on 14 January.

The current Administration has prioritised reforms to revitalise the fisheries sector. Under President Dr Mohamed Muizzu, a new system was introduced to ensure fishermen receive payments within 48 hours, alongside the clearance of outstanding arrears inherited from the previous government.

Officials note that the improved payment mechanism has encouraged fishermen who had previously left the industry due to financial difficulties to return, contributing to an increase in both active fishermen and fishing vessels. The Government has also formalised fishing as a recognised occupation through the establishment of a National Fishermen’s Register, enabling fishermen to access banking and other financial services.

Reflecting these developments, the Maldives Monetary Authority (MMA) has reported that fish exports have risen by 87 per cent, underscoring the positive impact of reforms on the fisheries sector.