Pres Muizzu reaffirms pledge to set minimum fish purchase rate at MVR 20

President Dr. Mohamed Muizzu on Monday reassured fishermen that he will deliver his pledge to set the minimum fish purchase rate of Maldives Industrial Fisheries Company (MIFCO) at MVR 20 per kilogram, instead of setting the rate against global prices as currently practiced.

He provided the reassurance in a meeting with local fishermen at the President’s Office on Monday.

The primary request presented by the fishermen was the revision of the fish purchase price to MVR 20 per kilogram, as President Muizzu pledged during his 2023 presidential campaign. They also requested the government to facilitate access to fuel at State Trading Organization (STO) rates, introduce digital weighing scales, expand of fish weighing stations, and install additional Fish Aggregating Devices (FADs).

They also proposed the establishment of a system for daily payments for weighed fish and requested consideration for providing Ramadan bonuses to fishermen.

In response, President Muizzu reaffirmed his commitment to increasing the fish purchase price to MVR 20 per kilogram.

He added that work is already underway to implement a daily payment system and to digitize the entire fisheries sector.

He also highlighted the introduction of bank loan facilities tailored for fishermen and assured that the government would continue working to improve and expand access to financial support.

President Muizzu also reiterated his administration’s dedication to expanding ice plant facilities, as outlined in the annual address, and confirmed that ongoing projects aimed at increasing capacity would be completed as planned.

On the matter of Ramadan bonuses, President Muizzu announced his intention to extend this benefit to all eligible workers, including fishermen.

He said that such allowances should be distributed through a structured framework based on the official fishermen’s registry, and encouraged the fishermen to view the matter constructively.

President Muizzu concluded the meeting by reaffirming his commitment to working closely with stakeholders in the fisheries sector to resolve challenges and to support the continued development and prosperity of the industry.