Government plans extensive changes to the fishing industry

Fisheries Ministry has stated that it will amend the exclusivity agreements that permit just four Maldivian companies to purchase fish and export so that more companies will be able to take part in the business.

Only four companies are currently licensed to carry out fishing operations in four different regions of the country. President Ibrahim Mohamed Solih had stated in the "Jazeera Holhuashi" event held last June that it was possible to change the zonal system that the country was divided into in the fishing industry and that such a shift would bring a lot of advantages for fishermen.

The Fisheries Ministry's director Adam Ziyad responded to a question by "Sun" at yesterday's "Nuvagadi-Media aai eku" event by announcing that work was being carried out to set out fair prices for fishermen and that as part of these efforts the whole country would be opened for fishing for more companies and the current system of zones would be revoked.

This will result in competition amongst companies for the products and will bring fishermen fair prices. The current agreement limits the number of companies that can carry out these operations in the country to the ones that are already approved.

The country was distributed into four zones in former president Maumoon's tenure after MIFCO faced difficulties in purchasing fish in good seasons. The four zones were later changed into two zones and the four companies that were permitted to conduct business after a bidding process began operating in these zones with two companies in each zone.

Ziyad also said that out of these four companies only one was still purchasing fish.

The four companies permitted to purchase fish:

Island Enterprises - Sh. Kikimini

Jausa Fisheries (Eco Fisheries) - H.A Hoohandhoo

Horizon Fisheries - L. Maandhoo

Funaddoo Tuna Products (IOF Corporation) - Th. Funaddoo

A floor price for fish!

Ziyad also stated that the government will also work to set out a minimum price or a "floor price" for fish. He stated that this was due to complaints received from fishermen that accuses the companies of fluctuating the price of fish in good seasons and that the government would fix these issues by issuing a minimum price. He also stated that the "floor price" would be fair to both the companies and fishermen as well.

The government will also make it easier for fishermen to obtain ice following these intended changes, according to the Ministry.