Fisheries Minister Ahmed Shiyam responded to parliamentary inquiries on Tuesday, addressing plans for a new fish packing facility in Hulhumalé, challenges faced by fishermen, and a World Bank-supported programme aimed at strengthening the private fisheries sector.
During the parliamentary session, Galolhu North MP Mohamed Ibrahim questioned the minister about the planned fish packing facility. In response, Minister Shiyam stated that the project is expected to begin by mid-year, with completion scheduled for mid-2025. He confirmed that funding has already been allocated, and the formal project announcement is expected within the next two months. The facility, described as relatively small in scale, is intended to be completed within a year.
The minister also acknowledged concerns raised by fishermen regarding market competition and pricing. He noted that some believe small-scale packers should be allowed into the market, arguing they would offer higher prices than private companies. Another concern related to access to subsidised fuel, which he said had been addressed last year.
Responding to a separate question from MP Mauroof Zakir, Minister Shiyam revealed that the World Bank has allocated USD 8.3 million (MVR 128 million) to support private fisheries businesses. The programme aims to help companies market their own products and find ways to utilise discarded fish parts for additional revenue. Of this amount, USD 1.8 million (MVR 27.7 million) will be allocated to small and medium enterprises (SMEs). The initiative will provide financial assistance covering 40% of the total cost of eligible projects. The Fisheries Ministry is currently finalising the application criteria before opening for submissions.
The minister also stated that discussions are underway with Maldives Islamic Bank to streamline the distribution of fish through the ministry’s revolving fund. He noted that the government is continuing support for fish dryers and has introduced new financial facilities, including a loan scheme offering up to MVR 700,000 without collateral, with a repayment period of 10 years at a 5% interest rate. A total of MVR 32 million has been allocated for this initiative, with 62 individuals qualifying.
While the minister outlined these initiatives, questions remain over whether small-scale packers will be given access to the market as fishermen demand, and how effectively the World Bank-backed programme will address the pricing concerns raised in the industry.
