President Dr Mohamed Muizzu has announced the resolution of outstanding payment delays to fishermen. Starting tomorrow, fishermen with Bank of Maldives (BML) accounts will receive payments for their catch within 48 hours of weighing.

The announcement was made during the President’s visit to AA Atoll and K Atoll, where he toured K. Gaafaru and engaged with local residents.

President Dr Muizzu confirmed that delayed payments, a longstanding issue, have been fully addressed. Over the past two weeks, MVR 38 million has been disbursed to fishermen, with MVR 32.4 million deposited into 196 BML accounts and MVR 5.6 million into 20 Maldives Islamic Bank (MIB) accounts.

The President explained that a recent agreement between the Ministry of Finance, Maldives Industrial Fisheries Company (MIFCO), and BML ensures that payments are credited to BML accounts within 48 hours. The Government is also working to address delays for fishermen with MIB accounts.

Fishermen had previously staged multiple protests over delayed payments, highlighting a critical issue in the sector. The Government had responded with subsidies and reforms, now culminating in the successful implementation of a payment system guaranteeing disbursements within 48 hours after catch weighing. This achievement fulfils a core pledge of the Dhiveheenge Raajje Manifesto.

In addition to resolving payment issues, measures have been introduced to reduce operational costs. Fishermen can now purchase fuel at State Trading Organization (STO) rates, with supplies available from Fuel Supplies Maldives (FSM) depots in Himmafushi, Kooddoo, Felivaru, and Addu City Hulhumeedhoo.

President Dr Muizzu reiterated his Administration’s commitment to revitalising the fishing industry. Plans are underway to double fish storage capacity and enhance processing facilities, aiming to position fisheries as a high earning industry and ensure its sustainable growth.