Since the majority of the income earned from fishing is spent on purchasing diesel, in order to ease the cost for fishermen, MIFCO has reduced the prices of diesel sold by the company from 22nd September.
The price has been reduced from MVR 8.65 to MVR 7.33, a change of MVR 1.54 per litre. However, the public will still get to buy diesel from MIFCO for the price of MVR 13 per litre.
Recently, as an attempt to solve the delay in payments faced by fishermen in the country, MIFCO has changed the fixed payment rate used by the company and will start charging prices according to the prices in the global fish market. The change will be implemented on 24th September.