The Maldives Industrial Fisheries Company (MIFCO) has confirmed that all payments for fish delivered to the Kooddoo and Addu Fisheries Complexes have been fully settled.

The latest disbursement was made yesterday, bringing the total amount paid to fishermen between November 2023 and November 2024 to MVR 918 million. This payment corresponds to a haul of 50,588 metric tonnes of fish.

MIFCO confirmed that the payments cover all deliveries to the Kooddoo and Addu Fisheries Complexes.

The company is now working to clear outstanding payments for fish delivered to the Felivaru Fisheries Complex between October 28 and November 15. The current backlog for these deliveries stands at approximately MVR 30 million.

Highlighting progress under the current Administration, MIFCO noted that when the Government assumed office, it inherited a debt of around MVR 250 million owed to fishermen. This backlog has been fully cleared, reflecting the Administration’s commitment to supporting the nation’s fishing community.

To streamline future payments, the Government has pledged to ensure fishermen are compensated within two weeks of delivering their catch to MIFCO. Efforts are ongoing to implement this policy and further strengthen the fisheries sector.