Fishermen in Addu have ceased their protests following the government’s commencement of depositing overdue payments into their accounts. The fishermen had been demonstrating over the past days against delays in receiving payments from the government.
The Maldives Industrial Fisheries Company (MIFCO) announced that a total of MVR 53 million was being deposited into captains’ accounts starting from last Thursday. The initiation of these deposits led to the end of the protests at the Addu Fisheries Complex.
In response to ongoing difficulties in paying fishermen, MIFCO decided to purchase fish at current global market rates rather than the previously controlled prices. The new rates will be announced weekly, as stated by MIFCO.
Previously, MIFCO had been buying fish at a price set by the government, disregarding global market fluctuations. During the last presidential elections, the previous administration raised the price of fish to MVR 25 per kilo. The current government later reduced the price to MVR 20 per kilo.
Despite this adjustment, payments to fishermen have only been possible with government subsidies. Annually, over MVR 400 million is allocated for these subsidies.
The current government had pledged to settle payments to fishermen within 48 hours of sale. However, officials have stated that this goal can only be achieved after implementing necessary reforms to MIFCO and improving its financial situation.
The cessation of protests marks a temporary resolution to the recent unrest, as fishermen await the government’s continued efforts to stabilise payment processes and ensure timely compensation for their catches.
