The Maldives Industrial Fisheries Company (MIFCO) has disbursed more than MVR 78 million to fishermen by the end of April, figures released by the company show.

Data shared by MIFCO indicate that a total of MVR 78,778,405 was paid to 1,068 fishing vessels for fish purchases during April. The payments correspond to 4,414 tonnes of fish supplied to the company over the month.

Of the total amount disbursed, MVR 77.7 million paid to fishermen for skipjack tuna. In addition, MVR 115,600 was paid to 91 vessels for yellowfin tuna weighing over 10 kilograms, while MVR 1,002,350 was paid to 196 vessels for yellowfin tuna exceeding 15 kilograms.

When the Government assumed office, outstanding payments to fishermen stood at around MVR 250 million. The Administration cleared these dues within its first year and introduced a mechanism to ensure payments are made within 48 hours. This arrangement has since been maintained, contributing to increased fishing activity and higher volumes of fish landed and exported.

The year 2025 saw key policy decisions aimed at strengthening the fisheries industry. These included raising the purchase price of fish to MVR 16 per kilogram and reducing the price of fuel sold to fishermen to MVR 13 per litre.

MIFCO also began purchasing larger yellowfin tuna earlier this year. From 11 January, the company started buying fish weighing over 15 kilograms, and from 21 January expanded purchases to include fish between 10 and 15 kilograms. At present, large yellowfin tuna are purchased at a rate of MVR 25 per kilogram.