The Maldives Industrial Fisheries Company (MIFCO) has announced that all outstanding payments to fishermen at the Kooddoo and Addu Fisheries Complexes have been cleared, with the latest disbursement made yesterday.
Between November 17, 2023, and November 15, 2024, MIFCO paid USD 59.4 million for 50,588 metric tons of fish. However, payments for fish caught between October 28 and November remain in progress, with a backlog of USD 1.9 million.
When the current administration assumed office, fishermen were owed USD 16.2 million. Since then, these debts have been settled, with the government committing to releasing payments within two weeks going forward.
These efforts reflect ongoing measures to ensure the livelihoods of fishermen and enhance the sustainability of the Maldivian fishing industry, a key pillar of the nation’s economy.
