Member of Parliament for Baarah constituency Ibrahim Shujau has said that the Government’s forward-thinking approach is the fisheries sector, including yellowfin tuna fisheries, and supporting economic recovery and sectoral development.

In a message shared on social media, MP Shujau said President Dr Mohamed Muizzu is working to restore stability and productivity in the fisheries industry, which he said had faced significant challenges in recent years. He noted that the current Administration is focused on reviving key economic sectors while maintaining fiscal responsibility and avoiding additional debt burdens.

MP Shujau described the fisheries sector as one of the Government’s priority areas for development and expressed appreciation for the President’s leadership in advancing measures aimed at supporting fishermen and rebuilding industry confidence.

Maldives Industrial Fisheries Company (MIFCO) has expanded its yellowfin tuna purchasing operations as part of ongoing efforts to address challenges faced by fishermen. Under the current purchasing structure, MIFCO is buying yellowfin tuna weighing between 10 and 15 kilograms at a rate of MVR 20 per kilogram, while yellowfin tuna weighing 15 kilograms and above are purchased at MVR 25 per kilogram.

MIFCO has also confirmed that arrangements are in place to ensure payments to fishermen are processed within 48 hours of fish delivery. According to the company, the measures are intended to improve cash flow for fishermen and encourage increased participation in yellowfin tuna fishing.

In line with the 48-hour payment policy, MIFCO deposited more than MVR 1.1 million to 19 fishing vessels yesterday. Of this amount, over MVR 700,000 was paid to 10 vessels supplying skipjack tuna, while approximately MVR 47,000 was deposited to six vessels landing yellowfin tuna weighing over 15 kilograms. A further MVR 300,000 was paid to three vessels supplying yellowfin tuna weighing more than 10 kilograms.

When President Dr Muizzu assumed office, payments amounting to MVR 250 million had not been released to fishermen by the previous administration. During the first year of his term, the outstanding payments were settled, and arrangements were also introduced to ensure fishermen are paid within 48 hours.